When talking about International Economics, we could be talking about the impact on the macro level, how something affects AD-AS or on the micro level, how something affects a single market.
If we are talking about a single market, say for avocados, it’s a supply and demand diagram.
Read the article and define the following and be able to identify the concepts on a supply and demand diagram for avocados:
Consumer Surplus
Producer Surplus
Total Surplus
Allocative Efficiency
Allocative Inefficiency
Deadweight Loss
Article: Click Here
Afterwards, complete the following and show me to get checked off the list for a grade. You need to make a 21 out of 21. Also, read the explanations each time you answer the question.