Example of consumer surplus, Microeconomics

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Example: The Value of Clean Air

Air is free in sense that we do not pay to breathe it.

Question: Are benefits of cleaning up air worth the costs?

People pay extra to buy houses where the air is clean.

Data for house prices among the neighborhoods of New York and New Jersey were compared with the various air pollutants.

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Consumer surplus, what is the application of consumer surplus

what is the application of consumer surplus

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