The difference between consumer surplus and producer surplus in a market is equal to the deadweight loss

The effect of a change in price on the quantity bought when the consumer remains indifferent between the original and the new situation is called the

A) income effect. B) indifference effect. C) substitution effect. D) demand effect.

The need for government subsidies of irrigation produced

(a) the Desert Land Act (1877). (b) the Interstate Commerce Commission Act (1887). (c) the Newlands Act (1902). (d) all of the above.