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Consumer Surplus
Weegy: In mainstream economics, economic surplus (also known as total welfare or Marshallian surplus after Alfred Marshall) refers to two related quantities. [ [ Consumer surplus or consumers' surplus is the monetary gain obtained by consumers because they are able to purchase a product for a price that is less than the highest price that they would be willing to pay. Producer surplus or producers' surplus is the amount that producers benefit ... (More)
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Asked 5/10/2012 2:50:23 PM
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What would be the various consequences of this tax on both consumption as well as production?
Weegy: The government should not do what you have just said. It should use the taxes to increase revenue, or to stabilize the economy. Both taxes will create deadweigh loss. (More)
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Asked 5/10/2012 3:01:58 PM
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Imposing a surplus tax on consumers, through an individual sales tax,
Weegy: It would grossly distort the efficient allocation of resources by shifting them from those who derive the most utility to those who derive the least. [ Imagine increasing the price of baseball tickets so that people who value others things more than tickets could purchase them. Or collecting a tax on automobiles so that more people could buy autos instead of taking the bus. on what ECONOMIC grounds cold that be justified? ] (More)
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Asked 5/10/2012 3:12:00 PM
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what is a example of Imposing a surplus tax on consumers, through an individual sales tax
Weegy: Examples include excise duties on cigarettes, alcohol and fuel and also value added tax (More)
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Asked 5/10/2012 3:33:17 PM
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“Consumer surplus
Weegy: In mainstream economics, economic surplus (also known as total welfare or Marshallian surplus after Alfred Marshall) refers to two related quantities. [ [ Consumer surplus or consumers' surplus is the monetary gain obtained by consumers because they are able to purchase a product for a price that is less than the highest price that they would be willing to pay. Producer surplus or producers' surplus is the amount that producers benefit ... (More)
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Asked 5/10/2012 3:37:50 PM
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