Lecture 5: Covers Chapter 4 of Krugman-Microeconomics. An explanation of consumer and producer surplus, continuing topics from lecture 4.

Consumer Surplus and Producer Surplus

This course provides an introduction to microeconomics. Professor Hoynes lectures on markets, supply and demand, efficiency and equity. She also uses this basic framework to consider a host of real world applications including taxes, environmental policy, education and welfare programs.

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Consumer Surplus and Producer Surplus

Consumer Surplus and Producer Surplus