DEMAND
51
things as units of utility the same for me
as for any other person, the marginal utility
of a thing for which he and I paid the same
price would not necessarily be the same for
both of us since we might differ in respect of
tastes and intensity, of wants and he might
be the wealthier. As a person gets wealthier,
the marginal utility of money to him falls,
other things being equal. The conclusion
to which the argument of this paragraph
meanders is that the surplus in utility enjoyed
by a group of consumers of a commodity is
an assemblage of diverse things which cannot
be added to one another to make up a think
able whole.
Consumer’s surplus is more easily compre
hensible when we think of it in terms of money.
We may then define it as the difference between
what a person does give for a thing and what
he would give rather than be deprived of the
thing altogether. If I would give £45 for a
piano upon which I have set my heart, and
am able to buy it for £20, I enjoy a consumer’s
surplus of £25 on my acquisition. The £25
stands for what I have saved in view of the
fact that I was not compelled to give as much
for the piano as I was prepared to give. Simi
larly we may interpret the surplus in the case
of the apples already treated in terms of utility.