Market effeciency 101

The price consumers are willing to pay for a unit

The cost of providing a unit

Profits made by a firm

The difference between the price a consumer pays for an item and the price he/she is willing to pay for it

Producer surplus minus consumer surplus

Profits plus utility

Total utility minus profits

Consumer surplus plus producer surplus

The difference between the amount the producer is willing to supply goods for and the actual amount received by him when he makes the trade.

Profit made by producers

Loss of cost of production by producers

All of the above

D

C

A

B

D

A

C

B

A+C

B+D

A+B

D+C

15

10

25

None of the above

10

15

25

None of the above

10

15

25

None of the above