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Consumer Surplus Calculator
Consumer surplus can be explained as the situation where consumer expects a product to be at certain price point but the product is priced lower than he/she expected. For example, James approaches his nearby car dealer to purchase his new car. He plans to finish the purchase within $25,000. But due to new year's eve and promotional offer, the car dealer sells the consumer's new car at an offer price of $22,000. Hence, James have earned a consumer surplus of $3,000.
Let us understand the concept of consumer surplus with the help of the below graph:
Therefore, you could see from the above graph that the consumer surplus forms a right triangle. Hence, depending upon the product or service we need to apply area of right triangle formula. i.e, 1/2(base x height). where base refers to amount of product and height refers to price difference.
Use the below calculator to calculate consumer surplus. Enter the required value and click calculate button to find the answer.
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