118 Outcome: Surplus and Inefficiency

What you’ll learn to do: use the concepts of consumer, producer, and total surplus to explain why markets typically lead to efficient outcomes

In this section, you’ll build on your understanding of surplus from the previous outcome to examine the connection between types of surplus and the impact they have on the economy.

LEARNING ACTIVITIES

The learning activities for this section include:

  • Reading: Inefficiency of Price Floors and Price Ceilings
  • Self Check: Surplus and Inefficiency

Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.

License

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Microeconomics by Lumen Learning is licensed under a Creative Commons Attribution 4.0 International License, except where otherwise noted.

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