What to Keep. After all creditors, taxing authorities and beneficiaries of the estate have been paid, the estate may be closed. How long the process of closing an estate will take varies from case to case. Generally, anyone making a claim against the estate must do so within a specified time frame.
Consumer surplus (Graph illustrating consumer (red) and producer (blue) surpluses on a supply and demand chart) Consumer surplus or Consumer's surplus (or in the plural Consumers' surplus) is the difference between the price consumers are willing to pay (or reservation price) and the actual price. If someone is willing to pay more than the actual price, their benefit in a transaction is how much they saved when they didn't pay that price.
Consumer surplus occurs if the buyer is able to purchase the product at a lower cost than this limit, which is seen as a gain. An example of consumer surplus in business and the global economy is oil prices: as the price per barrel drops below what the consumer is used to paying, the consumer profits with a surplus.Producer surplus occurs when goods are sold at a higher price than the lowest price the producer was willing to sell for.onsumer surplus occurs when the price for a product or service is lower than the highest price the consumer would pay. For example, think of it like an auction: a buyer walks into an auction with a set price limit he or she will not exceed.