Excedente del consumidor

Consumer surplus is the difference between the amount consumers are willing to pay for a product and the amount they actually pay.

Consider Nancy, a student and a member of the college rock band. She loves the muffins available in the college cafeteria. She values them so much that she is willing to pay up to $5 for her favorite blueberry muffin because of the enjoyment and energy it provides, especially after a band rehearsal.

However, the canteen sells muffins for $3 each.

In this scenario, Nancy's consumer surplus is $2. This surplus represents the difference between the maximum amount Nancy was willing to pay, which is $5, and the actual price she paid, which is $3.

Nancy gets extra satisfaction or a bonus of $2 because she gets the muffin cheaper than her highest willingness to pay.

These $2 are the monetary expression of the additional happiness received by a consumer. It shows how consumers can benefit from market transactions when they pay less than what they are willing to for a product they value.