Quantify the benefit consumers receive when they pay less than the maximum they'd be willing to pay, useful in pricing and policy analysis.
The highest price consumers are willing to pay
The actual equilibrium or selling price
Number of units demanded at market price
Consumer surplus represents the difference between what consumers are willing to pay and what they actually pay. It measures the economic benefit to buyers from market transactions.
Total Consumer Surplus
Per-Unit Surplus
Price Difference
Max price minus market price
This calculates the triangular area under the demand curve and above the market price line.
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