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Unformatted text preview: better benefits, it leads to a change in the deadweight loss. So, it results in almost same amount of social total surplus price ceiling is good for consumers and can create smaller social welfare as it helps protect them against extreme economic conditions and price hikes. Price floor is beneficial to the government and traders and so has a positive impact on social total surplus. It increases revenue to the government and does not let it go below the price floor limit....
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This note was uploaded on 04/11/2011 for the course ACC 305 taught by Professor Allison during the Spring '11 term at Western Intl..
- Spring '11