What Is Consumer Surplus?

Consumer surplus is the consumer's gain from exchange. It's the difference between the maximum price that the consumer is willing to pay for a given quantity, and the market price the consumer actually has to pay. Total consumer surplus is the sum of the consumer surplus of all buyers.

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[tazimmahta]

Awesome.... In Just 2 mintues you explained great.. Thanks.... :))

[dograclicksvishalgupta]

Thanks alot for clearing my concept so easily.

[Guessnought]

i got mixed up whenever they mention marginal value in the book. this ironed it out so i could actually learn

[ahmadbiztech]

thank you. this helped me understand this

[hej-wdes]

Plz nake these types of videos more and more

[RankaNikunj]

Please make a video on India's currency Demonization. How it affected our Economy?

[oluwanifemiogundeko]

What's the name of the track in the background during the explanation?

[vcudderisback]

they should really redo the intro in 60 fps

[whatfor]

Okay, great, but what does that mean? The number doesn't really seem to relate or correlate to anything. It is just the area under an arbitrary curve which hypothetically has no end point and typically isn't linear. So what of relevance does it actually tell you?

[FlamingBasketballClub]

So consumer surplus is essentially the difference of what consumers paid for goods and services and the market price for those goods and services?

[TheGerogero]

Combine price discrimination techniques designed to extract as much consumer surplus as possible along with consumerist propaganda and you go a long way in explaining the shrinking middle class.

[cherylmC]

Is this what coupons do? And is this why you can find a $50 item online for $1500? Is this what bitcoin does?- sorry, just discovering this!

[seansixsixsix]

Without giving some real world applications, this kind of tutorials are useless.