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 ...

A linear demand curve is a line representing the relationship between the demand for a product or service and its price. Everyone knows that sales are proportional to price: The more you charge for an ...

In this paper we present results of joint estimates of factor demand functions in aggregate Swedish industry and in eight of its subsectors using the equilibrium equality between marginal ...

This study formulates and estimates a six-equation model for canned cling peaches and fruit cocktail in which processors are viewed as price setters, with quantities not sold at the set price carried ...