What is the calculation for consumers surplus?

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1140517

2026-04-18 18:30

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Consumer Surplus = the difference between what consumers are willing to pay and what they actually pay for a good or service. It is hard to explain this thru formula as it require a long explanation and debrief. Essentially it is represented by a triangle, and the surplus is calculated thru the formula to calculate a Triangles height. That is (BASE x HEIGHT)/2 I have attached a link below. Please refer it for details.

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