Changes

Consumer Surplus is the net benefit a consumer obtains from buying a good. In supply and demand models, consumer surplus is represented as the value (price times quantity) captured above the price level but below the demand curve.  

Consumer surplus is the net benefit a consumer obtains from buying a good. In supply and demand models, consumer surplus is represented as the value (price times quantity) captured above the price level but below the demand curve.  

The lost Consumer Surplus is the [[social cost]] of a [[monopoly]].

The [[social loss]] caused by a [[monopoly]] is the lost consumer surplus.

[[Category:Economics]]

[[Category:Economics]]