A deadweight loss is defined as $...$ a$.$ a reduction in social welfare due to equity considerations. b$.$ a reduction in social well$-$being due to equity considerations. c$.$ a reduction in social welfare due to laissez$-$faire policies. d$.$ a reduction in social welfare due to market failure. e$.$ a reduction in social welfare due to market interventions $6.$ The difference between maximum willingness to pay and price is known as $...$ a$.$ producer surplus. b$.$ total benefits. c$.$ consumer surplus. d$.$ deadweight loss. e$.$ market failure. $7.$ Consumer surplus for a certain unit sold is equal to $...$ a$.$ the vertical distance between price and the demand curve. b$.$ the vertical distance between the demand curve and the supply curve. c$.$ the vertical distance between price and the supply curve. d$.$ the vertical distance between the demand curve and the x$-$axis. e$.$ the vertical distance between the supply curve and the x$-$axis. $8.$ Market producer surplus is equal to what area? a$.$ The area below the demand curve but above price b$.$ The area between the demand and supply curves c$.$ The area below the demand curve but above the x$-$axis d$.$ The area above the supply curve but below price e$.$ The area below the supply curve but above the x$-$axis. $7.$ What is another name for profits? a$.$ Deadweight loss b$.$ Market failure c$.$ Consumer surplus d$.$ Producer surplus e$.$ Aggregate benefits