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Posted: February 24th, 2022
Consumer Surplus
Consumer Surplus
“Consumer surplus” represents the distinction between what a shopper is prepared to pay for a superb or service and the worth that they really pay.
In different phrases, the idea of shopper surplus signifies how a lot customers acquire from consuming items and providers at a specified worth.
Now let’s take into account the case of a “shopper deficit” or the loss represented by customers who exist on the reverse finish of the demand curve.
These are these individuals who can’t afford to devour any items or providers on the specified worth.
To deal with such a shopper loss, think about that you’re now tasked with imposing a “surplus tax” on customers by the addition of a person gross sales tax which will likely be added to the market worth of sure items and providers. The proceeds from such a tax will likely be used to compensate an equal variety of these customers on the backside of the demand curve, thereby, giving them the chance to devour such items and providers which they in any other case wouldn’t have been in a position to buy on the specified worth.
What could be the varied penalties of this tax on each consumption in addition to manufacturing?
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