4/09 - access total revenue-expected sales consumer and...

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4/09/08 Monopolies are bad 2 nd cornerstone Monopolies have market power “Consumer Surplus”- consumer gains from transaction what it is worth-actually paid “Producer Surplus”- seller gains from transaction
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Unformatted text preview: access total revenue-expected sales consumer and producer surplus are only maximized under perfect competition...
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This note was uploaded on 04/18/2008 for the course ECO 2023 taught by Professor O'gorman during the Spring '08 term at South Florida Community College.

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