Consumers, Producers and the efficiency of markets
Text of Consumers, Producers and the efficiency of markets
1. Consumers,Producers, and theEfficiency of MarketsChapter 7Copyright 2001 by Harcourt, Inc.All rights reserved. Requests for permission to make copies of any part ofthework should be mailed to:Permissions Department, Harcourt College Publishers,6277 Sea Harbor Drive, Orlando, Florida 32887-6777.
2. Revisiting the MarketEquilibriumDo the equilibrium price andquantity maximize the totalwelfare of buyers and sellers?