Difference between revisions of "Consumer surplus"
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(New page: Consumer Surplus is the net benefit a consumer obtains from buying a good. (consumer surplus) = (total benefit) - (total cost) Category:Economics) |
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| − | Consumer Surplus is the net benefit a consumer obtains from buying a good. | + | Consumer Surplus is the net benefit a consumer obtains from buying a good. In supply and demand models, consumer surplus is represented as the value (price times quantity) captured above the price level but below the demand curve. |
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[[Category:Economics]] | [[Category:Economics]] | ||
Revision as of 23:17, April 5, 2007
Consumer Surplus is the net benefit a consumer obtains from buying a good. In supply and demand models, consumer surplus is represented as the value (price times quantity) captured above the price level but below the demand curve.