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1.2.8 Consumer and producer surplus
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What is surplus?

What is surplus?

Consumer surplus is the difference between the maximum price a buyer is willing to pay and the price actually paid. On a price and quantity diagram, it is the area below the demand curve and above the market price.

1.2.8 Consumer and producer surplus Lesson

  1. A Level
  2. /Economics
  3. /1.2.8 Consumer and producer surplus

Step-by-step lessons covering Edexcel A A Level Economics 1.2.8 Consumer and producer surplus for A Level Economics. Each lesson works through exam-style questions in Paper 1, Paper 2 and Paper 3 format. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.