Glossary · Micro · Market analysis and welfare
Consumer surplus
The gain buyers get from paying less than the most they would have paid. On the graph it is the area below the demand curve and above the price, out to the quantity sold.
Also called: CS
Related terms
More from market analysis and welfare
Definitions are the start
See the term used, not just defined.
The full course teaches every term in context, with worked examples, interactive graphs and practice questions that remember what you get wrong.