### 3 videos in "Area between Curves"

## Consumer and Producer Surplus

Consumer and Producer Surplus

6311 views, 1 rating - 00:09:12

Part of video series The Integral and Some Business Applications

Check out www.themathdude.org for more videos.

(
download video
)

Be able to explain what consumer surplus, producer surplus, and social gain are in graphical terms given the supply and demand curves.

- Computing Technology for Math Excellence - Devoted to the standards movement and integrating technology into teaching and learning and in K-12 mathematics and calculus. Find software and sites for teaching and learning math with technology. Accessibility resources are included.

- How do you find the consumer surplus, the producer surplus, and the total social gain by computing integrals on a TI graphing calculator given a demand and supply function that are functions of the quantity?
- How do you find the equilibrium quantity and price given supply and demand functions?
- How do you find the equilibrium quantity and price for a situation using the Equation Solver on a TI graphing calculator?

This lesson explains the concept of finding where the equilibrium quantity and price are for a given situation if you know the supply and demand functions. You will also learn to use the skill of finding the area between curves to find the consumer surplus, producer surplus, and total social gain. A TI graphing calculator is used to do calculations in this lesson. A good real-world example problem is explained and solved in this lesson.