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Why want markets that make consumer and producer surplus

Assignment Help Macroeconomics
Reference no: EM132914435

Discussion 1: Markets and wellbeing: Why we want markets that make consumer and producer surplus bigger? Explain the concept of surplus and the relationship between price and consumer surplus. Please, build your argument trough an example (it can be fictitious).

Discussion 2: What does it mean (in microeconomic terms) that basic research is a public good? Define a public good and an externality and relate that to the existence of patents in basic research.

Discussion 3:  Costs: Imagine that you run a bar in the Barcelona city centre and your number of clients falls dramatically because of mobility restrictions. Using your microeconomic concepts explain the decision to shut down in the short run and to leave the market in the long run

Reference no: EM132914435

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