Skip to Main Content
Economics
book

Economics

by Terry Hillman
July 2014
Beginner content levelBeginner
384 pages
8h 39m
English
DK Publishing
Content preview from Economics

CHAPTER8

Consumer and Producer Surplus

In This Chapter

  • Consumer surplus: the benefits of being in the market
  • Deriving the demand curve using consumer surplus
  • Producer surplus and the gains from trade
  • Deriving the supply curve using producer surplus
  • How price controls, sales taxes, and deadweight loss reduce society’s welfare

Imagine a new game show called Name Your Price. The show’s host stands between two tables at which contestants are seated. On one side are three buyers; on the other side are three sellers. The host shows a picture of a beautiful red convertible Mustang. The buyers are told to type into their computer what price they are ...

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.
Start your free trial

You might also like

Economics DeMYSTiFieD

Economics DeMYSTiFieD

Melanie Fox, Eric Dodge
Managerial Economics

Managerial Economics

Vanita Agarwal
Economics for Dummies

Economics for Dummies

Sean Masaki Flynn, PhD

Publisher Resources

ISBN: 9781615645022