What are a consumer and a producer?

Ok, so I've graphed this and everything and I'm pretty sure that consumer and producer surplus in a perfectly competitive firm BEFORE the price ceiling are both zero. Am I right? But then when I impose a price ceiling, I'm confused as to what happens...

Two firms, GC(Q1) & BQ(Q2) both firms demand is given by P=11-Q1-Q2, Constant MC=1, What is the market outcome i.e. price and quantity sold on the market and what is the price and quantity if the sum of consumer and producer surplus is maximized...

WHAT ARE THESE SURPLUSES USED FOR. that the question i want to know.

i need examples too thats what im really having trouble with

Given the following demand and supply equations in the market for wheat, answer the following questions. Prices are in dollars, and quantities are in bushels. Demand: P=12 - (4/3)Qd Supply: P = 2 + (1/3)Qs 1. What level of production is necessary for...

I was learning plants and animals as a reviewand i asked my teacher if the Venus Flytrap is a producer or consumer. My teacher say it is a producer but my friends say its a consumer. Then i asked two scientists, one of them said its a producer but the...

I know how to solve the 1 producer 1 consumer problem. It was something like this. The producer produced 1 item and stored it into the buffer. The producer blocks until the consumer ...show more

Demand in the Organic Spaghetti industry is given as QD = 190 - (1/3) P. Total costs for the industry (assumed to be the combined total costs for “numerous” firms) is given as TC = 200 + 80Q + 2Q2 . A. Suppose that the industry is perfectly...