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.  

In a [[monopoly]], the loss in [[total surplus]] (known as [[social loss]]) is from a reduction is the consumer surplus while [[producer surplus]] does not rise accordingly.  However, if a monopoly can perfectly [[price discrimination|price discriminate]] the consumer surplus in the market will be zero, since the monopoly extracts all benefits — however, there will not be any [[deadweight loss]] and the market will be efficient.

In a [[monopoly]], the loss in [[total surplus]] (known as [[social loss]]) is from a reduction is the consumer surplus while [[producer surplus]] does not rise accordingly.  However, if a monopoly can perfectly [[price discrimination|price discriminate]] the consumer surplus in the market will be zero, since the monopoly extracts all benefits — however, there will not be any [[deadweight loss]] and the market will be efficient.

[[Category:Economics]]

[[Category:Economics]]