Documents Consumer Surplus ©1999, 2006,2010, 2011 by Peter Berck.

Slide 1Consumer Surplus ©1999, 2006,2010, 2011 by Peter Berck Slide 2 Money Measures How much would you be willing to pay (WTP) for a new ski area? How much does it cost?…

Documents The Welfare Theorem & The Environment © 1998, 2011 by Peter Berck.

Slide 1 The Welfare Theorem & The Environment © 1998, 2011 by Peter Berck Slide 2 Outline Surplus as measure of consumer satisfaction VC as area under MC Competition…