Consumer and Producer Surplus
Read this article and attempt several practical problems related to consumer and producer surplus by answering the "Try It" quiz questions. Check your answers after you're done.
1. LEARNING OBJECTIVES
- Explain, calculate, and illustrate consumer surplus
- Explain, calculate, and illustrate producer surplus
- Explain, calculate, and illustrate social surplus
Source: Lumen Learning, https://courses.lumenlearning.com/wmopen-microeconomics/chapter/consumer-producer-surplus/
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