Author Question: For any transaction, the sum of consumer surplus and producer surplus is cooperative surplus. ... (Read 272 times)

Melani1276 · **on:** Jun 29, 2018

For any transaction, the sum of consumer surplus and producer surplus is cooperative surplus.

Indicate whether the statement is true or false

Question 2

Consumer surplus is the difference between the maximum amount a buyer is willing to pay for a product and the price he actually pays.

Indicate whether the statement is true or false