Unrestricted Use
CC BY
- Material Type:
- Full Course
- Provider:
- Rice University
- Provider Set:
- OpenStax College
- Date Added:
- 06/29/2017
By the end of this section, you will be able to:
Contrast consumer surplus, producer surplus, and social surplus
Explain why price floors and price ceilings can be inefficient
Analyze demand and supply as a social adjustment mechanism
By the end of this section, you will be able to:
Explain price controls, price ceilings, and price floors
Analyze demand and supply as a social adjustment mechanism