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 ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. In economics, demand is the consumer's ...

Demand is what the consumer can and is willing to buy at a given price over a given time period. Analyzing demand is a complicated process that takes into account many variables. Economists and ...

This is a preview. Log in through your library . Abstract Price-dependent demand functions are commonly used in structural models. This is largely because these models are easy to solve. The same ...