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Published byBeverly Harrington Modified over 9 years ago
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Economic Surplus Welfare Economics and Public Goods
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Copyright © by Houghton Mifflin Company. All rights reserved. 2 Measurements of Economic Welfare Consumer surplus (CS) Producer surplus (PS)
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Copyright © by Houghton Mifflin Company. All rights reserved. 3 Figure 3.11: Consumer and Producer Surplus
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Copyright © by Houghton Mifflin Company. All rights reserved. 4 Figure 3.12: Changes in Consumer and Producer Surpluses
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Copyright © by Houghton Mifflin Company. All rights reserved. 5 Figure 3.13: Welfare Is Maximized at the Market Equilibrium Price and Quantity
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