{"id":267,"date":"2015-07-17T22:28:15","date_gmt":"2015-07-17T22:28:15","guid":{"rendered":"https:\/\/pressbooks.ccconline.org\/accmacro\/chapter\/glossary-surplus\/"},"modified":"2023-07-14T19:07:19","modified_gmt":"2023-07-14T19:07:19","slug":"glossary-surplus","status":"publish","type":"chapter","link":"https:\/\/pressbooks.ccconline.org\/accmacro\/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","protected":false},"author":32,"menu_order":130,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":[],"pb_section_license":""},"chapter-type":[],"contributor":[],"license":[],"class_list":["post-267","chapter","type-chapter","status-publish","hentry"],"part":254,"_links":{"self":[{"href":"https:\/\/pressbooks.ccconline.org\/accmacro\/wp-json\/pressbooks\/v2\/chapters\/267","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pressbooks.ccconline.org\/accmacro\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/pressbooks.ccconline.org\/accmacro\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accmacro\/wp-json\/wp\/v2\/users\/32"}],"version-history":[{"count":1,"href":"https:\/\/pressbooks.ccconline.org\/accmacro\/wp-json\/pressbooks\/v2\/chapters\/267\/revisions"}],"predecessor-version":[{"id":268,"href":"https:\/\/pressbooks.ccconline.org\/accmacro\/wp-json\/pressbooks\/v2\/chapters\/267\/revisions\/268"}],"part":[{"href":"https:\/\/pressbooks.ccconline.org\/accmacro\/wp-json\/pressbooks\/v2\/parts\/254"}],"metadata":[{"href":"https:\/\/pressbooks.ccconline.org\/accmacro\/wp-json\/pressbooks\/v2\/chapters\/267\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/pressbooks.ccconline.org\/accmacro\/wp-json\/wp\/v2\/media?parent=267"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accmacro\/wp-json\/pressbooks\/v2\/chapter-type?post=267"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accmacro\/wp-json\/wp\/v2\/contributor?post=267"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/pressbooks.ccconline.org\/accmacro\/wp-json\/wp\/v2\/license?post=267"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}