X hits on this document

124 views

0 shares

0 downloads

0 comments

15 / 27

Gains From Trade

Consumer Surplus

Quantifying Welfare E ects

Producer Surplus

Welfare in Equilibrium

Quantifying Welfare E ects

Q: More generally, how does consumer welfare change when the price changes from p to p ?

A: Three measures:

Change in consumer surplus

Compensating variation

Equivalent variation

Document info
Document views124
Page views124
Page last viewedWed Jan 18 15:51:57 UTC 2017
Pages27
Paragraphs488
Words2150

Comments