Title: Module 4 Introduction: (CU1 M4)
Course: SkillsCom EC 202 15.0 > Section: Credit Unit 1 Module 4 - Economic Efficiency, Government Price Setting, & Taxes

This Module defines consumer and producer surplus and economic efficiency. It also covers how government price controls and taxes affect economic efficiency. The economic efficiency of competitive markets, price floors, price ceilings, and markets that are subject to taxes are also examined.

Module Outcomes:

- Calculate and define consumer and producer surplus.
- Show where the economically efficient outcome is on a demand-supply diagram.
- Show how a price control or tax affects consumer and producer surplus and economic efficiency.