Paul Solman: Today’s Paul Samuelson excerpt explains the concept of “consumer surplus.” See the other transcripts we posted this week on the basics of economics here and here.) To Samuelson, it was ...

You don't need to have studied economics to be familiar with the law of diminishing marginal utility and the idea of consumer surplus. The first has to do with the benefit consumers get from their ...

In economics, the consumer surplus is the satisfaction a consumer receives when purchasing a good or service. Graphically, it is depicted as the triangle-shaped area formed by the aggregate demand ...

There is an enormous amount of literature in which the concept and application of consumer's surplus (C.S.) are discussed. It is the aim of this paper to attempt to clarify the concept by discussing a ...

Budget surpluses occur when income exceeds expenses in any budget. Economic surplus arises when supply outstrips demand, lowering prices. Producer surplus increases with cost reductions from ...