Examlex
Use a table of values to estimate the value of . Then use a graphing device to confirm your result graphically.
Consumer Surplus
The discrepancy between what consumers are prepared and capable of spending on a product or service versus what they end up paying.
Decreases Price
A reduction in the cost or value of a good or service.
Consumer Surplus
The variance between the overall sum consumers can and will pay for a good or service and what they genuinely spend on it.
Producer Surplus
The difference between the amount that producers are willing and able to sell a good for and the actual amount they receive (higher market price).
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