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Consumer surplus is a topic with important concepts that can be used in different filed related to business. There are no industries that don’t have consumers, in one way or the others there are people who avail the service the industries provide. And so consumer surplus is used by each one of them. Our consumer surplus assignment experts will help you to clear all the doubts related to this topic. And will make your assignment best among others by using the original content in it.
Sample to help with consumer surplus assignment
Consumer surplus is a significant topic that is connected to almost all the fields that provide any type of service. You should be sure before you choose anyone for helping you with this topic. Our consumer surplus assignment experts believe that you need to see the work quality that we provide so that you can trust us to be the best. And so they have presented sample work of assignment that we provide. These samples will help you check our quality and decide for us. It will also be useful as a resource for your consumer surplus assignment help. When you select us for your assignment you need not worry about the format.
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Discuss the applications of consumer surplus concepts and is this beneficial for your consumer surplus assignment help?
Consumer surplus is a concept that is used almost in all the fields. It has great value in Economics whether it is the policy or the theory. The concept of consumer surplus has been used to resolve many complications of economics. The applications have been used for peoples benefit’s in many ways. Here we will discuss the few conceptual applications of consumer surplus. You will get to know-how has these concepts are used to make a smooth economics policy or theory. It is also resourceful for your help with consumer surplus assignment. Because having a deep knowledge about this topic will increase the chances of being great with the practical implementation. Let us begin the discussion on the applications which are as follows:
The first application of the consumer surplus concept has been used for presenting a fair explanation of the paradox of water and diamonds. You might not know this but the complete market system and economics theories were put under the bars of doubts. Because water is so essential component, one cannot imagine life without water. And this water was having cheap market value on the other hand diamonds were high with the value and cost. Yes, diamonds which are used for beautifying object which is not the reason for human existence have more value in the market than water. It was a very confusing debatable topic which made people doubt the market system. But the concept of consumer surplus made it easy to explain this complicated situation. According to the concept, the water has low marginal valuation or benefit per litre and the supply per period is high. This means there are enough sources to supply and the demand is low as per the supply margin. But when we talk about diamonds the utility margin or benefit margin for diamonds is high, and the supply is low. This is because the formation of diamonds takes hundreds of years and it is a rare object. After the explanation now in the modern economy, this paradox has ended.
The second application of the consumer surplus concept can be seen as the evaluations for the benefit and loss from the tax. Yes, this concept can provide you with the idea and explain to you the concepts of how paying tax can be for you. It is confusing about how you paying tax work. It is heard that paying taxes is our responsibility but which type of tax can be beneficial and which turns out to be a loss. This is understood with the help of the concept of consumer surplus. All the government tax that we pay income, road, house water electric, etc. are our responsibility. Because the requirement or the marginal benefit that we get from these services are almost equal or even big from what we spend in taxes. But there are taxes such as sales tax which may be good or bad for us depending upon the situation. For example, when we buy a car we do have to pay sales tax, and this tax is affected by the overall market situation. The company from which we are buying the car has to face ups and sown of the market. And thus this can be reflected in the sales tax. Not intakes then in price but the cost of the car may fluctuate according to the market situation. A car that is in demand and the production is limited or the raw material used benefits it is providing is high. Then the prices tend to go higher than usual and if it is not in demand then it may be cheap. The taxes also depend upon the cost it is selling on so it also gets affected.
These two can be seen as the greatest application of the concept of consumer surplus. Well, it is not it, there is much more which our experts can tell you while they provide you with consumer surplus assignment help.
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