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How ᴛᴏ ᴅᴇꜰɪɴᴇ ᴇᴄᴏɴᴏᴍɪᴄ ᴡᴇʟꜰᴀʀᴇ?today i am so happy coz my exam is over it was so difficult .@apporva ♥​

Answer»

➺Economic WELFARE is economic wellbeing EXPRESSED in terms of the sum of consumer and producer surplus – also known as community surplus. Consumer surplus exists whenever the price a consumer would be willing to pay in terms of their EXPECTED private benefit is greater than they actually pay.

  • In MARKET analysis economic welfare at equilibrium can be calculated by adding consumer and producer surplus. Welfare analysis CONSIDERS whether economic decisions by individuals, organisations, and the government increase or decrease economic welfare.

⚘ oh! hie akki! ⚘❤️


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