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About 2012 Lecture Notes International Trade Policy 2010 - 129817278416252500 PDF
This document provides an introduction and overview of lecture notes on international trade policy. It discusses the tools of welfare economics that will be used to understand the effects of trade policies, including consumer surplus, producer surplus, and market efficiency. Consumer surplus refers to how much consumers are willing to pay for a good minus the amount they actually pay. Producer surplus similarly refers to the difference between the price producers are willing to accept and the actual price received. The total surplus, which is the sum of consumer and producer surplus, is maximized at the equilibrium price where supply and demand intersect. These concepts will help analyze how trade policies like tariffs and quotas impact welfare.
Detailed Information
| Author: | ['Ajay Kaundal'] |
|---|---|
| Publication Year: | 2017 |
| Pages: | 45 |
| Language: | English |
| Format: | |
| Price: | FREE |
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