The satisfaction that consumers obtain from a good over and above the price paid. This is the difference between the maximum demand price that you would be willing to pay and the price that you actual [..]

The difference between the most that consumers would be willing to pay for a good and what they do pay. For each unit, this is the vertical distance between the demand curve and price. For all units p [..]

The difference between the price a consumer would be willing to pay for a good or service and the price that consumer actually has to pay.

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 a [..]

Consumer surplus is an estimate of the benefit to consumers from paying a fixed price rather than each consumer paying the maximum he or she is willing to pay. The level of consumer surplus is rarely [..]

The difference between what decision-makers would be willing to pay and what they actually pay at a given equilibrium volume. Geometrically, it is the area under the demand curve and above the equilib [..]

Difference between the amount a consumer would be willing to pay for a commodity and the amount he or she actually pays.

Let Pi, i = 1,2, …, n, be the (nominal) price of commodity i that a consumer faces, and let Y be his (or her) nominal income. Assuming that the consumer ...

Over the years, consumer surplus has been used to measure the welfare effects of price and income changes. Despite its widespread use, it provides a measure ...

is the difference between the maximum amount a consumer is willing to spend on a good and the amount that the consumer actually spent on the good at the market price.