Business, 22.11.2019 22:31 joThompson

Total surplus measures
a. loss to buyers from paying higher prices plus the benefit to sellers from receiving lower prices.
b. buyers’ willingness to pay less the sellers’ costs.
c. fairness of the distribution of resources in society.
d. value to the government of goods and services sold in society.

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Total surplus measures
a. loss to buyers from paying higher prices plus the benefit to seller...