The Sum of the Change in Consumer Surplus Plus the Change

question 1

True/False

The sum of the change in consumer surplus plus the change in producer surplus is called deadweight loss to society.

---

Definitions:

Subculture

A cultural group within a larger culture, often having beliefs or interests at variance with those of the larger culture.

Social Norms

The accepted behaviors, rules, or standards of conduct expected in a given society or group.

Norm

Accepted standards or expectations of behavior within a society or group.

Mutual Constitution Model

The idea that cultures and selves each cause the other.