consumer's surplus

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consumer surplus
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İngilizce - İngilizce
In economics, the difference between the total amount consumers would be willing to pay to consume the quantity of goods transacted on the market and the amount they actually have to pay for those goods. The former is generally interpreted as the monetary value of consumer satisfaction. The concept was developed in 1844 by the French civil engineer Arsène-Jules-Étienne-Juvénal Dupuit (1804-1866) and popularized by Alfred Marshall. Though economists adopted a nonquantifiable approach to consumer satisfaction in the 20th century, the concept is used extensively in the fields of welfare economics and taxation

İlgili Terimler

consumer surplus
Consumer surplus or Consumer's surplus (or in the plural Consumers' surplus) is the difference between the price consumers are willing to pay (or reservation price) and the actual price. If someone is willing to pay more than the actual price, their benefit in a transaction is how much they saved when they didn't pay that price. For example, a person is willing to pay a tremendous amount for water since he needs it to survive, however since there are competing suppliers of water he is able to purchase it for less than he is willing to pay. The difference between the two prices is the consumer surplus
consumer surplus
The difference between the maximum amount the consumer is willing to pay and what the consumer is required to pay
consumer surplus
A measure of the benefits to consumers from the consumption of a good or service Defined as the area below the demand curve up to the total quantity consumed, minus total expenditures on the good or service
consumer surplus
net economic value from consumption or use of a good or service It is the difference between the maximum that a person is willing to pay for the good or service rather than do without it, and what he/she actually spends The adjective, "consumer" is misleading because this category of value also applies to non-consumptive uses (e g , observing salmon runs) and to non-use benefits (e g , protecting marine mammals from exploitation)
consumer surplus
The difference between the maximum price a consumer is willing to pay (i e the value he/she attaches to a good) and the price he/she actually has to pay
consumer surplus
the difference between the value a consumer places on all units consumed and the payments needed to be made to actually purchase that commodity It is represented by the by the area under the demand curve and above the price line
consumer surplus
The difference between the value of a good and its price
consumer surplus
area above the price line and below the demand curve from the point of origin to the allocation of interest
consumer surplus
(Hackett, 1998, chapter 3) When a buyer's willingness to pay value exceeds the price the buyer had to pay, that difference is known as consumer surplus
consumer surplus
The net benefit realized by consumers when they are able to buy a good at the prevailing market price It is equivalent to the difference between the maximum amount consumers would be willing to pay and the amount they actually do pay for the units of the good purchased Graphically it is the triangle above the market price and below the demand curve
consumer surplus
-the difference between the price actually paid for a good, and the maximum amount that an individual is willing to pay for it Thus, if a person is willing to pay up to $3 for something, but the market price is $1, then the consumer surplus for that item is $2 This measure approximates, and is bounded by, the more technically precise measures of economic benefit: compensating variation or equivalent variation
consumer surplus
the difference between what a person is willing to pay for an additional unit of a good – the marginal benefit – and the market price of the good For the market as a whole, it is the sum of all the individual consumer surpluses, or the area below the market demand curve and above the market price (chapter 5)
consumer surplus
The value of a commodity, good, or opportunity above the cost to the consumer; measured using willingness to pay, as specified in Federal guidelines for water resources planning
consumer surplus
Savings to existing consumers arising from the difference between what they are willing to pay for an output and what they will be charged with the project Consumer surplus can arise when expanded supply is associated with a fall in price It can also arise when the output price is regulated by government and set below the demand price
consumer surplus
The value you get that is in excel of what you pay to get it
consumer surplus
the difference between what a person would be willing to pay and what he actually has to pay to buy a certain amount of a good
consumer surplus
The amount above the actual market price of a commodity that a purchaser would pay to avoid doing without the commodity
consumer`s surplus
difference between the benefit a customer derives from a product and the price paid for it
consumer's surplus

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    /kənˈso͞omərz ˈsərpləs/ /kənˈsuːmɜrz ˈsɜrpləs/