Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Trending News

Promoted
Timbo Slice
Timbo Slice asked in Social ScienceEconomics · 3 years ago

What is consumer surplus for the last buyer?

Update:

1) A computer game costs 100. Buyers will continue buying until the consumer surplus of the last game purchased is? 0? Minimized? Maximized?

I think it's 0.

Update 2:

2) At market outcome, Consumer surplus is fair? Producer surplus is fair? The market is equitable? None?

I think it's none because equitable means distributed fairly, but if say demand is more inelastic, consumer surplus is much larger than producer surplus. So it's not equitable even though we are at market equilibrium?

1 Answer

Relevance
  • Anonymous
    3 years ago
    Favorite Answer

    I think maximized consumer is a consumer's objective, no matter what. Consumer surplus is zero when the market is in monopoly. That is the second question, the market is equitable.

Still have questions? Get your answers by asking now.