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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What is total surplus? How is it illustrated on a demand and supply diagram?

To determine

Define total surplus and show it on the demand-supply diagram.

Explanation

The total surplus in the society is the sum of consumer surplus and producer surplus.

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