If the producer surplus is $1000 and the consumer surplus is $300, social surplus is ________....
If the producer surplus is $1000 and the consumer surplus is $300, social surplus is ________.
$700
-$700
$1300
Homework Answers
$1,300.
Explanation: Social surplus is the sum total of consumer suplus and producer surplus. Here, social surplus = consumer surplus + producer surplus = $1,000 + $300 = $1,300.
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