How to calculate Consumer Surplus without a graph

[@loganberthelot2959]

Is there a formula to find producer surplus without a graph? Thanks.

[@grgn7786]

What do I do if I have only a demand equation Q=120-2P and a given price of 6. What I am suppose to do to calculate the consumer surplus? There is no information about equilibrium price, willingness to pay and nothing is said about supply.

[@gabriellathomas3858]

how do I answer a question that asks what is the surplus when the price is $105 Demand is 25000 and supply is 75000

[@222roses7]

Let's say my demand equation is P = 110 - Q and supply equation is P = 10+Q, market equilibrium price = 60$, qty is 50 units. Why is my consumer surplus and producer surplus 1250$? I know that 50x50=2500/2=1250, but I don't really understand it. Will it always be my equilibrium qty X equilibrium qty /2? Thanks so much!

[@FreeEconHelp]

Not really, you need to find the area of the triangles, the equilibrium qty X price is PS, while the equilibrium qty X (max price - price) is your CS.

[@FreeEconHelp]

Forgot the divide by 2 (because it is a triangle)

[@danaelona4081]

So,if i am not using the qraph (of if there is no quantity involved) then i dont have to divide by (1/2)?? Bc in my problem there is no quantities. It is just one bracelet that a person paid for, for 20 dollars, but she valued it at $30. Would i have to use divide by (1/2) to find the total consumer surplus?? Or just subtract??

[@FreeEconHelp]

No, just subtract. Think of it was WTP (willingness to pay) minus actual price paid. Similar to your case... valued at $60 but paid $40 would be 60-40=20, for a consumer surplus of 20 (think of it as a bonus, amount saved, or extra income if that helps).

[@danaelona4081]

@@FreeEconHelp oh okay. Thanks. I also have a question about price ceilings. If a binding price ceiling on loaves of bread happens then what is the long term effect of the demand and supply of bread elasticity would it create a larger shortage overtime or a smaller shortage.??

[@maryday8539]

off topic but you sound like ferris bueller

[@kx85lover]

bless