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By selling a laptop at 1000 for which consumers are willing to pay up to 1200 a ... to pay up to $1200, aconsumer electronics firm makes a profit of $400 per unit. In this scenario, the amount$600, that is ($1200 - $1000) + $400, is the ______.

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jepessoa

Answer:

economic value created

Explanation:

Economic value is defined as the total economic benefit provided by a good or service to the economic agents involved in it transaction.

In this specific case, there is a consumer surplus = $1,200 - $1,000 = which results in an economic benefit of $200 for consumers. Also, the consumer electronics firm earns a $400 profit with this transaction, so the total economic value created by this transaction is the sum of the consumer surplus + the profits earned by the company = $200 + $400 = $600.

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