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 ...

Founded in 1933 by a group of young British and American economists, The Review of Economic Studies aims to encourage research in theoretical and applied economics, especially by young economists.

Abstract: A structural import demand equation is derived and estimated for a large number of countries, using recent time-series techniques that address the problem of non-stationarity. The average ...

One key decision every business has to make is how much of its goods or services to make available to customers. Demand functions will give you a sense of how much revenue a business can bring in ...