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Consumer Surplus
-Difference between maximum amounts a consumer is wishing to pay for a good and amount actually paid.
The stepladder demand curve is converted into a straight line demand curve by making the units of good smaller. Combining consumer surplus with aggregate profits which producers obtain we can evaluate:
1) Benefits and Costs of different market structures
2) Public policies which changes the behavior of consumers and firms
Inflation is not possible under the gold standard.” Is this statement true, false, or uncertain? Explain your answer.
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have to do a group project on consumer equlibrium. plz help on wat sub topics to select (i am in college 1st year)
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advantages and disadvantages
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