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You count how many widgits are left after profit maximization has been achieved.

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Q: How do find the consumer surplus given only the demand function and price?
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Related questions

How can one derive the Marshallian demand function from a given utility function?

To derive the Marshallian demand function from a utility function, you can use the concept of marginal utility and the budget constraint. By maximizing utility subject to the budget constraint, you can find the quantities of goods that a consumer will demand at different prices. This process involves taking partial derivatives and solving for the demand functions for each good.


What is demand and quantity of demand?

Demand is a function that defines how much of a certain good are the consumers willing to purchase at a given price.Quantity of demand is the quantity of a certain good the consumers are willing to purchase at a given price, as defined by the function of demand.


What is consumer equilibrium?

consumer equilibrium states that consumer maximise his utility with the given income and with the given price or when a consumer getting maximum satisfaction with available resources then he will be in a state of equilibrium.


What is the relationship between Marshallian demand and Cobb-Douglas utility functions in microeconomics?

In microeconomics, Marshallian demand refers to the quantity of a good or service that a consumer is willing to buy at a given price. Cobb-Douglas utility functions are mathematical models that represent consumer preferences and satisfaction. The relationship between Marshallian demand and Cobb-Douglas utility functions lies in how the utility function influences the consumer's demand for goods and services based on their preferences and budget constraints.


What is the difference between demand function and demand curve?

demand curve shows quantities that the consumer is willing and able to buy at various prices in a given period of time,other things being equal. Whereas, a budget line is a graph showing all the possible combinations of two goods that can be purchased at given prices and for a given budget.


Is the amount of a good or service a consumer is willing and able to buy at various prices during a given time period?

Demand


What is the amount of a good or service a consumer is willing and able to buy at various prices during a given time period?

demand


What is the amount of a good or service a consumer is willing and able to buy at various prices during a given time period.?

demand


What is Production rate and demand?

Production rate means that the rate at which production is carried. While demand is a quantity which a consumer is willing to buy at a specific price in a given period of time.


What is Comparative analysis of demand and supply in economics?

Comparative demand: Demand is the amount of a particular economic good or service that a consumer or group of consumers will want to purchase at a given price. Therefore, comparative demand is the difference or comparison in demand amongst individuals, a state or a society.


How can one calculate the quantity demanded when the price is given?

To calculate the quantity demanded when the price is given, you can use the demand function or demand curve. Simply plug in the given price into the equation or curve to find the corresponding quantity demanded.


Is the amount of a good or service a consumer is willing and able to buy at various prices during a given time period.?

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