Economist Tim Harford wrote in a column for the Financial Times that new digital goods have a
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Economist Tim Harford wrote in a column for the Financial Times that “new digital goods have a huge and unmeasured benefit to consumers—‘consumer surplus.’” Briefly explain what he meant. Can’t we measure the product’s benefit to consumers by just looking at the product’s price?
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Tim Harford is highlighting the concept of consumer surplus wh...View the full answer
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