ch08-The Economics of the Public Sector(10)

曼昆微观经济学分册英文版 教材PPT

Recap of Welfare Economics重温福利经济学 重温福利经济学P $54 3 $2.50 2 1 0 0 10

The market for gasoline

The market eq’m maximizes consumer + producer surplus. Supply curve shows private cost, the costs directly incurred by sellers Demand curve shows private value, the value to buyers (the prices they are willing to pay)

20 25 30 Q (gallons)9

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