| Question 1: If the markets for factors are perfectly competitive as well, producer surplus ultimately ends up as ________ to the owners of scarce inputs such as land. | |||
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| Question 2: The individual consumer surplus is the difference between the maximum total price a consumer would be willing to pay (or reservation price) for the amount he buys and the actual total ________. | |||
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| Question 3: One ________ tactic is to pretend a lower consumer surplus. | |||
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| Question 4: Typically these prices are decreasing; in that case they are given by the individual ________. | |||
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| Question 5: In some schools of heterodox economics, the economic surplus denotes the total income which the ruling class derives from its ownership of scarce ________, which is either reinvested or spent on consumption. | |||
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| Question 6: Note that producer surplus generally flows through to the owners of the ________: in perfect competition, no producer surplus accrues to the individual firm. | |||
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| Question 7: If the ________ intervenes by implementing, for example, a tax or a subsidy, then the graph of supply and demand becomes more complicated and will also include an area that represents government surplus. | |||
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| Question 8: The term surplus is used in ________ for several related quantities. | |||
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| Question 9: Total surplus is the primary measure used in ________ to evaluate the efficiency of a proposed policy. | |||
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