2. 제6장에서는 앞에서 배운 내용을 좀더 심화 학습하는 단계입니다.
시장의 효율성 개념과 더불어 사회적 후생손실을 강조합니다.

3. What you will learn in this chapter:
➤ The meaning of consumer surplus and its relationship to the demand curve
➤ The meaning of producer surplus and its relationship to the supply curve
➤ The meaning and importance of total surplus and how it can be used both to measure the gains from trade and to evaluate the efficiency of a market
➤ How to use changes in total surplus to measure the deadweight loss of taxes
➤ Why the deadweight loss of a tax means that its true cost is more than the amount of tax revenue collected
How much am I willing to pay for that used textbook?

4. Consumer Surplus and the Demand Curve
Willingness to Pay and the Demand Curve
A consumer’s willingness to pay for a good is the maximum price at which he or she would buy that good.

5. Consumer Surplus and the Demand Curve
Willingness to Pay and the Demand Curve

6. Individual consumer surplus = willingness to pay − price paid
Consumer Surplus and the Demand Curve
Willingness to Pay and Consumer Surplus
TABLE 6-1
Consumer Surplus When the Price of a Used Textbook Is $30
Potential buyer
Willingness to pay
Price paid
Individual consumer surplus = willingness to pay − price paid
Aleisha
$59
$30
Brad 45 30 15
Claudia 35 5
Darren 25 −
Edwina 10
Total consumer surplus: $49

7. Consumer Surplus and the Demand Curve
Willingness to Pay and Consumer Surplus
Individual consumer surplus is the net gain to an individual buyer from the purchase of a good. It is equal to the difference between the buyer’s willingness to pay and the price paid.
Total consumer surplus is the sum of the individual consumer surpluses of all the buyers of a good.
The term consumer surplus is often used to refer to both individual and to total consumer surplus.

8. Consumer Surplus and the Demand Curve
Willingness to Pay and Consumer Surplus

9. Consumer Surplus and the Demand Curve
Willingness to Pay and Consumer Surplus

10. Consumer Surplus and the Demand Curve
How Changing Prices Affect Consumer Surplus

11. Consumer Surplus and the Demand Curve
How Changing Prices Affect Consumer Surplus

12. Producer Surplus and the Supply Curve
Cost and Producer Surplus

13. Producer Surplus and the Supply Curve
Cost and Producer Surplus
A potential seller’s cost is the lowest price at which he or she is willing to sell a good.
Individual producer surplus is the net gain to a seller from selling a good. It is equal to the difference between the price received and the seller’s cost.
Total producer surplus in a market is the sum of the individual producer surpluses of all the sellers of a good.
Economists use the term producer surplus to refer both to individual and to total producer surplus.

14. Individual producer surplus = price received − cost
Producer Surplus and the Supply Curve
Cost and Producer Surplus
TABLE 6-2
Producer Surplus When the Price of a Used Textbook Is $30
Potential seller
Cost
Price received
Individual producer surplus = price received − cost
Andrew $5
$30
$25
Betty 15 30
Carlos 25 5
Donna 35 −
Engelbert 45
Total consumer surplus: $45

15. Producer Surplus and the Supply Curve
Cost and Producer Surplus

16. Producer Surplus and the Supply Curve
Cost and Producer Surplus

17. Producer Surplus and the Supply Curve
Changes in Producer Surplus

18. Consumer Surplus, Producer Surplus, and the Gains from Trade

19. Consumer Surplus, Producer Surplus, and the Gains from Trade
The total surplus generated in a market is the total net gain to consumers and producers from trading in the market. It is the sum of the producer and the consumer surplus.

20. Consumer Surplus, Producer Surplus, and the Gains from Trade
The Efficiency of Markets: A Preliminary View

21. Consumer Surplus, Producer Surplus, and the Gains from Trade
The Efficiency of Markets: A Preliminary View

22. Consumer Surplus, Producer Surplus, and the Gains from Trade
The Efficiency of Markets: A Preliminary View

23. Consumer Surplus, Producer Surplus, and the Gains from Trade
The Efficiency of Markets: A Preliminary View
The market equilibrium maximizes total surplus—the sum of producer and consumer surplus. It does this because the market performs four important functions:
1. It allocates consumption of the good to the potential buyers who value it the most, as indicated by the fact that they have the highest willingness to pay.
2. It allocates sales to the potential sellers who most value the right to sell the good, as indicated by the fact that they have the lowest cost.
3. It ensures that every consumer who makes a purchase values the good more than every seller who makes a sale, so that all transactions are mutually beneficial.
4. It ensures that every potential buyer who doesn’t make a purchase values the good less than every potential seller who doesn’t make a sale, so that no mutually beneficial transactions are missed.
Maximizing total surplus at your local hardware store.

24. Applying Consumer and Producer Surplus: The Efficiency Costs of a Tax
The excess burden, or deadweight loss, from a tax is the extra cost in the form of inefficiency that results because the tax discourages mutually beneficial transactions.

25. Applying Consumer and Producer Surplus: The Efficiency Costs of a Tax

26. Applying Consumer and Producer Surplus: The Efficiency Costs of a Tax

27. Applying Consumer and Producer Surplus: The Efficiency Costs of a Tax
Deadweight Loss and Elasticities

28. Applying Consumer and Producer Surplus: The Efficiency Costs of a Tax
Deadweight Loss and Elasticities

29. K E Y T E R M S
Willingness to pay
Individual consumer surplus
Total consumer surplus
Consumer surplus
Cost
Individual producer surplus
Total producer surplus
Producer surplus
Total surplus
Excess burden
Deadweight loss