Consumer Surplus Calculator
Parameter | Description | Example Value |
---|---|---|
Maximum Price Willing to Pay | The highest price a consumer is willing to pay for a product. | $100 |
Market Price | The actual price of the product in the market. | $70 |
Quantity Purchased | The number of units purchased at the market price. | 3 units |
Consumer Surplus | The total benefit consumers receive from purchasing a product for less than the maximum price they are willing to pay ((Maximum Price Willing to Pay – Market Price) * Quantity Purchased). | $90 |