WHAT IS CONSUMER’S SURPLUS
The consumer’s surplus refers to the difference between the amount a consumer budgeted I pay for a particular commodity based on i expected level of satisfaction and the act amount he paid to have the commodity, concept of consumer’s surplus is represent:
From the above graph, it is observed that when consumer made use of the very first unit, he
willing to pay as much as 6 120.00 but the commodity price was 6 50.00. So, he was able
save about 6 70.00.
Therefore, any amount above the market price of 6 50.00 represents
consumer’s surplus.
- how to establish enterprises
- what is a firm
- price equilibrium
- scale of preference
- concept of economics
- economic tools for nation building
- budgeting
- factors affecting the expansion of industries
- mineral resources and the mining industries
- RINDER PESTS
148. NEWCASTLE DISEASE
149. BACTERIA DISEASES
150. ANTHRAX
151. BRUCELLOSIS
152. TUBERCULOSIS
153. FUNGAL DISEASES
PROTOZOAN DISEASES
155. TRYPONOSOMIASIS
