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Measuring Economic Value

This category introduces measures of economic value and shows how to calculate the value that markets create.
  1. Market Failures (1)

Introduction to Welfare Analysis
This article introduces the concept of welfare analysis that economists use to calculate how much value markets create for society.

Introduction to Consumer Surplus
This article introduces the concept of consumer surplus and shows how it is calculated.

Introduction to Producer Surplus

Finding Consumer Surplus and Producer Surplus Graphically

The Efficiency of Competitive Markets

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