NEB Economics notes

Consumer’s Surplus

Arsène Jules Étienne Juvenel Dupuit introduced the concept of consumer’s surplus in 1844. It was further developed by Alfred Marshall in his famous book “Principles of Economics” in 1890. Prof. Boulding named it ‘Buyer’s Surplus”. In general, consumer surplus is realized in highly useful but relatively cheap commodities. Consumer surplus is defined as the difference …

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