{"id":3512,"date":"2015-07-17T22:28:15","date_gmt":"2015-07-17T22:28:15","guid":{"rendered":"https:\/\/courses.candelalearning.com\/masterymacro2xngcxmasterfall2015\/?post_type=chapter&p=3512"},"modified":"2016-06-20T23:02:53","modified_gmt":"2016-06-20T23:02:53","slug":"glossary-surplus","status":"publish","type":"chapter","link":"https:\/\/courses.lumenlearning.com\/suny-hccc-macroeconomics\/chapter\/glossary-surplus\/","title":{"raw":"Glossary: Surplus","rendered":"Glossary: Surplus"},"content":{"raw":"
consumer surplus<\/dt>
the extra benefit consumers receive from buying a good or service, measured by what the individuals would have been willing to pay minus the amount that they actually paid<\/dd><\/dl>
deadweight loss<\/dt>
the loss in social surplus that occurs when a market produces an inefficient quantity<\/dd><\/dl>
economic surplus<\/dt>
see social surplus<\/dd><\/dl>
producer surplus<\/dt>
the extra benefit producers receive from selling a good or service, measured by the price the producer actually received minus the price the producer would have been willing to accept<\/dd><\/dl>
social surplus<\/dt>
the sum of consumer surplus and producer surplus<\/dd><\/dl>","rendered":"
\n
consumer surplus<\/dt>\n
the extra benefit consumers receive from buying a good or service, measured by what the individuals would have been willing to pay minus the amount that they actually paid<\/dd>\n<\/dl>\n
\n
deadweight loss<\/dt>\n
the loss in social surplus that occurs when a market produces an inefficient quantity<\/dd>\n<\/dl>\n
\n
economic surplus<\/dt>\n
see social surplus<\/dd>\n<\/dl>\n
\n
producer surplus<\/dt>\n
the extra benefit producers receive from selling a good or service, measured by the price the producer actually received minus the price the producer would have been willing to accept<\/dd>\n<\/dl>\n
\n
social surplus<\/dt>\n
the sum of consumer surplus and producer surplus<\/dd>\n<\/dl>\n\n\t\t\t
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Candela Citations<\/h3>\n\t\t\t\t\t
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