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The whole concept of production, consumption and consumer behaviour has a very important role to play in modern economies. What is most important about this is, the whole concept of economics is rested on these facts and figures. In general, economics may not sum up to be a difficult subject. However, blending all these aspects into it, it thus looks extremely difficult.
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What is the subject?
Consumer surplus is that branch of economics which deals with the difference between what the amount the consumers are willing to pay and that amount that they actually pay. Thus, one can clearly see that on this, the complete consumer theory structure of economics rests.
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