What is another term for total surplus?
a. efficiency
b. consumer surplus
c. social surplus
d. deadweight loss
c. social surplus
Total surplus is another term for social surplus.
Economics
You might also like to view...
Which of the following could not contribute to differences in wage rates across markets?
a. differences in training and education requirements b. job discrimination c. differences in risk d. problems of labor mobility e. distribution of a new national help-wanted newspaper
Economics
Shelley's Salsa produces and sells organic salsa. Last year it sold 3 million tubs of salsa at a price of $3 per tub. For last year, the firm's
a. accounting profit was $9 million. b. economic profit was $9 million. c. total revenue was $9 million. d. explicit costs were $9 million.
Economics