In economics, the consumer surplus is the satisfaction a consumer receives when purchasing a good or service. Graphically, it is depicted as the triangle-shaped area formed by the aggregate demand ...

Consumer surplus is the amount exceeding an equilibrium price the consumer is willing to pay. The equilibrium price is an idealized price, in which the demand for the good equals its supply. If the ...

Comparative Statics, tracking an optimal or equilibrium value as an exogenous variable changes, ceteris paribus, is the heart of economic analysis. By building models and analyzing the comparative ...