Tag Archives | Consumer’s Surplus

Consumer’s Surplus (With Diagram) | Economics

In this article we will discuss about the concept of consumer’s surplus. Also learn about the difficulties involved in measuring consumer's surplus. Concept of Consumer’s Surplus: Introduction, consumer's surplus was introduced in economics by Alfred Marshall, although the use of the concept goes back at least to the Freanch economist Dupuit writing in the first half of the nineteenth century. [...]

By Nipun S|2017-01-13T05:58:26+05:30January 13, 2017|Consumers Surplus|Comments Off

Consumers Surplus: Theoretical and Practical Uses | Economics

In this article we will discuss about the theoretical and practical uses of the concept of consumers surplus. The uses are: 1. Distinction between Value-in-use and Value-in-Exchange 2. Importance in Welfare Economics 3. Comparison of Gains from the International Trade 4. Comparison of Living Conditions 5. Useful to a Monopolist 6. Environmental Benefits to Consumers 7. Practical Importance in Public [...]

By Nipun S|2017-01-13T05:58:26+05:30January 13, 2017|Consumers Surplus|Comments Off