-The slope of the line shown in the above figure is
Definitions:
Consumer Surplus
The contrast between the total sum consumers are ready and financially equipped to spend on a good or service, and the sum they actually spend.
Producer Surplus
The divergence between the price at which sellers are ready to offer a good or service and the price they actually obtain.
Economic Efficiency
A state in which resources are allocated in a way that maximizes the total benefit received by society from those resources.
Consumer Surplus
The divergence between the price consumers are willing to pay and what they really spend on a good or service.
Q50: The slope of a line equals the<br>A)
Q110: In the above diagram,draw a straight line
Q126: What is the difference between positive and
Q323: With y measured on the vertical axis
Q324: Resource use is allocatively efficient when marginal
Q373: In the figure above,a point showing an
Q389: Opportunity cost is best defined as<br>A) the
Q405: The slope of a positive relationship is<br>A)
Q424: If two variables are unrelated,a scatter diagram
Q442: Normative statements are statements about<br>A) prices.<br>B) quantities.<br>C)