Consumer surplus/Definition: Difference between revisions

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The excess of what a consumer is willing to pay for a product over what he has to pay for it.
The excess of what a consumer is willing to pay for a product over what he has to pay for it.

Latest revision as of 21:18, 22 May 2008

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Consumer surplus [r]: The excess of what a consumer is willing to pay for a product over what he has to pay for it.