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 ...

In economics, a demand curve represents the relationship between the quantity of a product demanded and its price. It is almost always downward-sloping, as more people are willing to buy the product ...

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 ...