Measuring society's welfare as 2CS + 0.5PS
A) gives heavier weight to consumer gains.
B) gives heavier weight to producer gains.
C) treats the gains to consumers and producers equally.
D) treats gains and losses with different weight.
Question 2
What is one reason activists might lobby the government to force firms to produce more output than they normally would in a perfectly competitive market?
A) They value consumer surplus more than producer surplus.
B) They value producer surplus more than consumer surplus.
C) They seek to avoid future regulation.
D) They seek to minimize total surplus.
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A Healthy Body Weight