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.
Producer surplus is defined by the area above the supply curve, below the price, and left of the quantity sold. Graph 2. The yellow triangle in the above graph represents consumer surplus. Consumer surplus exists when the price paid by a consumer is less than what the consumer would be willing to purchase the good for.Consumer surplus is defined by the area below the demand curve, above the price, and left of the quantity bought.roducer surplus is defined by the area above the supply curve, below the price, and left of the quantity sold. Graph 2. The yellow triangle in the above graph represents consumer surplus. Consumer surplus exists when the price paid by a consumer is less than what the consumer would be willing to purchase the good for.