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6 Cards in this Set
- Front
- Back
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Monetary Socially Efficient Price of Gasoline |
T |
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Socially Efficient Quantity |
S |
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Maximum total monetary private surplus |
A |
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Gain in total monetary surplus due to reducing gasoline output from the market to the socially efficient level |
I + K |
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Total consumer willingess to pay for S units of gasoline is |
A + B + C + D + E |
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If a socially efficient Pigouvian tax is levied on this market under full compliance, the total tax collected is |
C + D or D + E |
