Change in consumer surplus, Microeconomics

a. Generally, there will be a difference between the CV and the EV. Why?

b. The change in consumer surplus (?CS) is not "theoretically" justifiable like the CV and EV but it continues to be the most widely used measure of consumer welfare change. Explain how this can be reconciled.

Posted Date: 4/1/2013 3:56:30 AM | Location : United States







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