Consumer's surplus/Definition: Difference between revisions

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The  excess of the amount that a consumer would be willing to pay for a product over its market price, the value of which is usually estimated according to the [[rule of one-half]].
The  excess of the amount that a consumer would be willing to pay for a product over its market price, changes in the value of which are usually estimated according to the [[rule of one-half]].

Latest revision as of 03:48, 27 June 2010

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Consumer's surplus [r]: The excess of the amount that a consumer would be willing to pay for a product over its market price, changes in the value of which are usually estimated according to the rule of one-half.