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graph consumer surplus pepe unchain Bnb Eth XRP crypto futures coinbase futures binance futures

What is consumer surplus?

Consumer Surplus is the area under the demand curve (see the graph below) that represents the difference between what a consumer is willing and able to pay for a product, and what the consumer actually ends up paying. Consumer surplus is positive when the price the consumer is willing to pay is more than the market price.

When does consumer surplus decrease?

Consumer surplus always decreases when a binding price floor is instituted in a market above the equilibrium price. The total economic surplus equals the sum of the consumer and producer surpluses. Price helps define consumer surplus, but overall surplus is maximized when the price is pareto optimal, or at equilibrium.

What is consumer surplus plus producer surplus?

If a consumer would be willing to pay more than the current asking price, then they are getting more benefit from the purchased product than they spent to buy it. Consumer surplus plus producer surplus equals the total economic surplus in the market.

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