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Consumer surplus and producers surplus?

In: Economics [Edit categories]

Answer:

Consumer surplus - the difference between what a consumer is willing to pay and what they actually pay. Aggregate consumer surplus measures consumer welfare.

Producer surplus - the difference between what a producer is willing to sell their product for and what they actually receive. Aggregate producer surplus measures producer welfare

First answer by Ashlebyebye. Last edit by Ashlebyebye. Contributor trust: 13 [recommend contributor ]. Question popularity: 1 [recommend question].

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