Question

Use differentiation to determine consumer surplus based on demand function of any consumer-based product.

Answer 1

Answer:

incomplete question please send full question

Answer 2

Consumer Surplus based on Demand Function

Explanation:

• So we can say that where I think a consumer surplus happens when the price consumers pay for a product or service is less than the price they're willing to pay.
• So we can say that where I think consumer surplus is based on the economic theory of marginal utility, which is the additional satisfaction a consumer gains from one more unit of a good or service.

• So we can say that where I think consumer and producer surplus are values that a company can calculate to see when they have excess demand or production.
• So we can say that where I think if a company can better balance demand and production, they can be more profitable.