{"id":4460,"date":"2015-12-04T18:43:56","date_gmt":"2015-12-04T18:43:56","guid":{"rendered":"https:\/\/courses.candelalearning.com\/microxwaymakerxspring2016\/?post_type=chapter&#038;p=4460"},"modified":"2016-06-21T00:00:58","modified_gmt":"2016-06-21T00:00:58","slug":"outcome-surplus-and-inefficiency","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/atd-herkimer-microeconomics\/chapter\/outcome-surplus-and-inefficiency\/","title":{"raw":"Outcome: Surplus and Inefficiency","rendered":"Outcome: Surplus and Inefficiency"},"content":{"raw":"<h2>What you\u2019ll learn to do:\u00a0use the concepts of consumer, producer, and total surplus to explain why markets typically lead to efficient outcomes<\/h2>\r\nIn 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.\r\n<h3>LEARNING ACTIVITIES<\/h3>\r\nThe learning activities for this section include:\r\n<ul>\r\n\t<li>Reading:\u00a0Inefficiency of Price Floors and Price Ceilings<\/li>\r\n\t<li>Self Check: Surplus and Inefficiency<\/li>\r\n<\/ul>\r\nTake time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.","rendered":"<h2>What you\u2019ll learn to do:\u00a0use the concepts of consumer, producer, and total surplus to explain why markets typically lead to efficient outcomes<\/h2>\n<p>In this section, you&#8217;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.<\/p>\n<h3>LEARNING ACTIVITIES<\/h3>\n<p>The learning activities for this section include:<\/p>\n<ul>\n<li>Reading:\u00a0Inefficiency of Price Floors and Price Ceilings<\/li>\n<li>Self Check: Surplus and Inefficiency<\/li>\n<\/ul>\n<p>Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.<\/p>\n\n\t\t\t <section class=\"citations-section\" role=\"contentinfo\">\n\t\t\t <h3>Candela Citations<\/h3>\n\t\t\t\t\t <div>\n\t\t\t\t\t\t <div id=\"citation-list-4460\">\n\t\t\t\t\t\t\t <div class=\"licensing\"><div class=\"license-attribution-dropdown-subheading\">CC licensed content, Original<\/div><ul class=\"citation-list\"><li><strong>Authored by<\/strong>: Steven Greenlaw and Lumen Learning. <strong>License<\/strong>: <em><a target=\"_blank\" rel=\"license\" href=\"https:\/\/creativecommons.org\/licenses\/by\/4.0\/\">CC BY: Attribution<\/a><\/em><\/li><\/ul><\/div>\n\t\t\t\t\t\t <\/div>\n\t\t\t\t\t <\/div>\n\t\t\t <\/section>","protected":false},"author":3,"menu_order":4,"template":"","meta":{"_candela_citation":"[{\"type\":\"original\",\"description\":\"\",\"author\":\"Steven Greenlaw and Lumen 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