Title Details: | |
Consumers, businesses, welfare |
|
Authors: |
Pseiridis, Anastasia Lianos, Theodoros |
Reviewer: |
Tsounis, Nikolaos |
Description: | |
Abstract: |
This chapter introduces the concept of economic welfare, measured through consumer and producer surpluses. We use these concepts to analyze graphically the government interventions discussed in Chapter 5, i.e., imposing a maximum or minimum price, taxing a good, subsidizing production. Next, we introduce the concept of net utility, i.e., the difference between the utility from consumption and the cost of producing a quantity of a good. We show how we can use these concepts to analyze various situations, such as the positive effects of the "consumption" of education and the negative effects of the production of a good whose production causes pollution.
|
Type: |
Chapter |
Creation Date: | 2015 |
Item Details: | |
License: |
http://creativecommons.org/licenses/by-nc-nd/3.0/gr |
Handle | http://hdl.handle.net/11419/2367 |
Bibliographic Reference: | Pseiridis, A., & Lianos, T. (2015). Consumers, businesses, welfare [Chapter]. In Pseiridis, A., & Lianos, T. 2015. Economic analysis and policy: Microeconomics [Undergraduate textbook]. Kallipos, Open Academic Editions. https://hdl.handle.net/11419/2367 |
Language: |
Greek |
Is Part of: |
Economic analysis and policy: Microeconomics |
Publication Origin: |
Kallipos, Open Academic Editions |