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