Question
Total surplus in a market is equal to a. amount received by sellers - costs of sellers. b. willingness to pay - price. c. consumer
Total surplus in a market is equal to
a. | amount received by sellers - costs of sellers. | |
b. | willingness to pay - price. | |
c. | consumer surplus + producer surplus. | |
d. | value to buyers - amount paid by buyers. |
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Microeconomics
Authors: Douglas Bernheim, Michael Whinston
2nd edition
73375853, 978-0073375854
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