How to calculate Consumer Surplus and Total surplus with numbers

Watch
Ms875
Badges: 7
Rep:
?
#1
Report Thread starter 5 months ago
#1
Given
p=18-2q
c=6q

From that i have calculated
q=3
p=12
Total profit=18

How do i calculate consumer and total surplus
0
reply
MindMax2000
Badges: 20
Rep:
?
#2
Report 5 months ago
#2
You might get more responses if this thread was in the right category. I wouldn't have guessed many people doing Chemistry will know much about Economics.

consumer suplus is the area underneath the demand curve but above the equilibrium price. This normally takes the form of triangles as the demand curves tend to be depcited as linear equations.

total surplus = consumer surplus + producer surplus.

producer surplus = area above the supply curve but below the equilibrium price (usually a triangle because of linear supply equations being used). If no supply curve is presented (or it is suggested to be linear), then this area is above the Q axis, below equilibrium price, and left of equilibrium quantity (i.e. a rectangle)
1
reply
X

Quick Reply

Attached files
Write a reply...
Reply
new posts
Back
to top
Latest
My Feed

See more of what you like on
The Student Room

You can personalise what you see on TSR. Tell us a little about yourself to get started.

Personalise

Do you think receiving Teacher Assessed Grades will impact your future?

I'm worried it will negatively impact me getting into university/college (92)
38.33%
I'm worried that I’m not academically prepared for the next stage in my educational journey (26)
10.83%
I'm worried it will impact my future career (18)
7.5%
I'm worried that my grades will be seen as ‘lesser’ because I didn’t take exams (57)
23.75%
I don’t think that receiving these grades will impact my future (30)
12.5%
I think that receiving these grades will affect me in another way (let us know in the discussion!) (17)
7.08%

Watched Threads

View All