Market Equilibrium and Producer and Consumer Surplus

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Microeconomics

AP Microeconomics

Last updated 2:38 AM on 1/13/23

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1

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Consumer Surplus Graph

Area below d curve and above equilibrium price

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Producer Surplus Graph

Above s curve, below price

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CS+PS=

Total economic Surplus

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When is total surplus maximized?

At market equilibrium if there are no failures