8. Consumer and Producer Surplus
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Last updated 10:32 AM on 4/8/26
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5 Terms
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What is Consumer Surplus
The difference between the price consumers are willing and able to pay for a good/service adn the price they actually pay
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What is Producer Surplus
The difference between the price produers are willing and able to supply a good/service for and the price they actually receive
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What is the trick to know where consumer and producers surplus triangles are
Consumer Surplus: Above the Price Line, Below the Demand Curve
Producer Surplus: Above the Supply Curve, Below the Price Line
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Consumer and Producer Surplus Diagram and Formula for Society Surplus
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Alternative Consumer and Producer Surplus Diagram with Shifts
