ECO 365 Week 2 participation The Efficiency of Markets

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ECO 365 Week 2 participation The Efficiency of Markets
Class,

 

What is consumer surplus? What is producer surplus? How can these concepts be used to analyze the allocation of resources in free markets?

 

Cite the source(s) used to answer this question. Provide the source(s) below your response and apply APA guidelines for references.
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