In economics, the consumer surplus is the satisfaction a consumer receives when purchasing a good or service. Graphically, it is depicted as the triangle-shaped area formed by the aggregate demand ...

Learn the difference between consumer surplus and economic surplus, how the concepts are related, and the important theoretical and economic implications of both.

Consumer surplus is the amount exceeding an equilibrium price the consumer is willing to pay. The equilibrium price is an idealized price, in which the demand for the good equals its supply. If the ...