Market Efficiency, Consumer’s Surplus, and Producer’s Surplus
In economics, we believe that the equilibrium of supply and demand in the market maximizes the total benefits received by sellers and buyers. Similarly, the price that balances the supply and demand for the product is the best one as it maximizes the total welfare of consumers and sellers or producers. So, economists consider a […]
Market Efficiency, Consumer’s Surplus, and Producer’s Surplus Read More »