The consumer surplus calculator helps you calculate the consumer and extended consumer surplus.
Enter the actual price, willing price, equilibrium price, and equilibrium quantity to find the surplus and extended consumer surplus price.
In case you don’t know, consumer surplus measures market competition’s consumer benefits.
A consumer surplus occurs when a product or service costs less than customers are willing to pay.
It measures the additional advantage consumers gain by paying less than they were willing to spend.
Consumer surplus = (½) x Qd x ΔP
Qd = Supply and demand balance.
ΔP = Pmax – Pd, or the price at equilibrium where supply and demand are equal.
Pmax = The highest price a person is willing to pay.