Christina Majaski writes and edits finance, credit cards, and travel content. She has 14+ years of experience with print and digital publications. In mainstream economics, consumer surplus is the ...

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 ...

Discover how competitive equilibrium balances supply and demand in markets, maximizing economic efficiency for profit-driven producers and value-seeking consumers.

Budget surpluses occur when income exceeds expenses in any budget. Economic surplus arises when supply outstrips demand, lowering prices. Producer surplus increases with cost reductions from ...

Supply and demand curves express relationships between price and quantity. Equilibrium exists when supply equals demand. The shape of these curves and the equilibrium price affect small and large ...