Home > Term: marshallian surplus
marshallian surplus
1. This refers to the concepts of consumer surplus and producer surplus, as they were introduced by Alfred Marshall. 2. For consumer surplus, the Marshallian definition uses the demand curve holding income constant, in contrast to the Hicksian definitions, due to John Hicks, of compensating and equivalent variation.
- Part of Speech: noun
- Industry/Domain: Economy
- Category: International economics
- Company: University of Michigan
0
Creator
- Noroc
- 100% positive feedback