Can both producer surplus and consumer surplus exist at the same time in a particular market?
What will be an ideal response?
Yes. The actual price can be above the seller's marginal cost and below the buyer's maximum purchase price. So, buyer and seller can both earn a surplus on the same transaction.
Economics
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In 2015, the average life expectancy at birth in the United Kingdom and other high-income countries was around ________ years
A) 60 B) 70 C) 80 D) 90
Economics
The Lorenz curve and the Gini coefficient are similar in that both
a. are numerical measurements b. illustrate dispersions of income throughout an economy c. represent after tax incomes d. are abstract models of the real world but there are no data allowing us to apply it to the real world e. compare the levels of incomes earned in different countries
Economics