Welfare Economics

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Across
  1. 1. difference between the maximum MTP and a price of any good
  2. 3. ill health due to pollution
  3. 4. Total Net Benefits
  4. 6. Benefit of consuming one additional unit of a product
  5. 8. Benefit to all consumers in a market
  6. 12. Study of how allocation of resources affects economic well-being
  7. 14. resource allocation maximising total surplus received by all members of society
  8. 15. Regulation that imposes a minimum price for a good
  9. 16. The cost of producing one additional unit
Down
  1. 2. inefficiency of an unregulated market to produce a socially efficient outcome
  2. 5. The property of distributing prosperity uniformly among member of society
  3. 6. maximum amount a rational consumer may pay
  4. 7. An increase or decrease of an unit
  5. 9. A reduction in social welfare as a result of market regulation
  6. 10. French for Leave alone
  7. 11. net benefits received by producers through selling a product
  8. 13. regulation that specified the maximum price for a product