| 单词 | consumer surplus |
| 释义 | consumer surplus The excess of the benefit a consumer gains from purchases of goods over the amount paid for them. An individual demand curve shows the valuation put by a consumer on successive units of a good. Goods whose value to the consumer is higher than their price are bought; purchasing stops when their marginal utility is equal to their price times the marginal utility of money. If the marginal utility of money is treated as constant, consumer surplus can be measured by the area below the demand curve but above the price. The marginal utility of money is not in fact believed to be exactly constant, but if the good absorbs only a small proportion of income the error involved is small. A more serious problem is that the elasticity of the demand curve depends on the breadth of the category of goods considered: demand for food as a whole is much less elastic than demand for a particular foodstuff such as eggs, holding all other food prices constant. The system of measurement thus produces an estimated consumer surplus on a group of goods larger than the sum of surpluses on the members of the group. Adding the consumer surpluses for the market as a whole involves assuming that the marginal utility of money is equal for all consumers; if there are wide differences in income this is not plausible. The horizontal axis shows the quantity of good X consumed; the vertical axis shows its marginal valuation and its price. EBD is the consumer's marginal valuation of X. For a price-taker this is also the demand curve. OC is price per unit. OA is the amount consumed. OCBA is the amount spent (= price * quantity). OEBA is total value to the consumer. CEB = OEBA - OCBA is consumer surplus. For convenience the demand curve is drawn meeting the price axis at a finite price. If the demand curve is asymptotic to the price axis, consumer surplus can still be found provided the demand curve between O and A has a finite integral. |
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