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