Consumer surplus, Microeconomics

Assignment Help:

Consumer Surplus 

-Difference between maximum amounts a consumer is wishing to pay for a good and amount actually paid.

1192_consumer surplus.png

The stepladder demand curve is converted into a straight line demand curve by making the units of good smaller.
1573_consumer surplus1.png

Combining consumer surplus with aggregate profits which producers obtain we can evaluate:

  1) Benefits and Costs of different market structures

  2) Public policies which changes the behavior of consumers and firms 


Related Discussions:- Consumer surplus

Economic growth, Summarize the four supply factors in economic growth.

Summarize the four supply factors in economic growth.

Long-run versus short-run cost curves, Long-Run Versus Short-Run Cost Curve...

Long-Run Versus Short-Run Cost Curves What happens to average costs when both the inputs are variable versus only having one input that is variable (short run)? The Inflexi

Private returns versus social returns, Private Returns Versus Social Return...

Private Returns Versus Social Returns As there is subsidisation of education by the state in all countries (and a little higher subsidisation in developing countries) it happe

Structural unemployment, Structural Unemployment: This is unemploymen...

Structural Unemployment: This is unemployment resulting from changes in the pattern of demand for goods and services or changes in technology.These changes may in turn alter

What kinds of sustainability questions do raise, What two developments are ...

What two developments are demanding new ways of looking at the economic world in the 21st century?  What kinds of sustainability questions do they raise? Two developments that

Canon, analyze Swot of Canon

analyze Swot of Canon

Contribution of capital accumulation, Question:  Explain the contribution ...

Question:  Explain the contribution of capital accumulation in the progress of an economy? Capital makes the technological progress of the economy possible. Different technol

What is economic efficiency, Q. What is Economic efficiency? Economic ef...

Q. What is Economic efficiency? Economic efficiency Explain a situation where the total value of the end uses, to which the resources are put, is maximised. A consequence is th

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd