Finding Consumers' Surplus from a given demand function .

In this video we will solve a numerical on applications of Definite integral in economics
the question is to find Consumers' Surplus from a given demand function
P=15-Q and Equilibrium Price is P=9
the solution is like this:
first we find Equilibrium quantity from demand function by putting P=9
then Q=2
and total expenditure =P*Q=2*9=18
now Consumers'Surplus = Definite integral from zero to Equilibrium quantity. (Q=2) of demand function with respect to Quantity minus P*Q
solving ,we get Consumers'Surplus = 18
Graphically,
Consumers' surplus is measured as the area below the downward-sloping demand curve, or the amount a consumer is willing to spend for given quantities of a good, and above the actual market price of the good,(Equilibrium Price) depicted with a horizontal line drawn between the y-axis and demand curve
Definition of Consumer Surplus
This is the difference between what the consumer pays and what he would have been willing to pay.
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[@thebigheartedboyy]

You are the best sir❤

[@ECONMATHS]

Thanks for the appreciation

[@mitesh009]

Thank you so much sir. Very well explained

[@ECONMATHS]

Thanks for the appreciation brother 👍

[@ifeoluwaodebode7369]

well explained. thanks

[@ECONMATHS]

Thanks for the appreciation brother 👍

[@muhammadshehzad1548]

Great

[@ECONMATHS]

Thanks brother

[@dr.yogendrakumar4812]

Good

[@birajnath1520]

Thank You Very Much Sir 💓

[@ECONMATHS]

My pleasure brother

[@mudasirahmadsheikh-2524]

Sir it is very useful sir

[@ECONMATHS]

Thanks buddy for feedback.

[@ECONMATHS]

Aay Wallah Kardesh

[@mudasirahmadsheikh-2524]

@@ECONMATHS khuda karna zada zada ilem atta t

[@ECONMATHS]

In Sha Allah

[@anjanprasad1647]

Thank you so y sir

[@ECONMATHS]

My pleasure brother

[@ayeshasheikh6912]

hilal brother, there is a very simple way to do this too.
just plug in zero (P) into inverse demand function and u get 15. then calculate CS and you get 18.
is that wrong?

[@ECONMATHS]

dear sister, For linear demand functions you can solve without using integration . When it comes to nonlinear demand and supply functions You need to use calculus.

[@karishmakumawat4175]

Sir pls also solve non linear demand function!!

[@ECONMATHS]

Can you explicitly tell me what to solve for non linear demand functions. Thanks

[@karishmakumawat4175]

@@ECONMATHS sir ! How to find consumer surplus in case of non linear demand function?

[@ECONMATHS]

@@karishmakumawat4175 I ll explain in detail in coming video s

[@ashishughade7967]

Thank you sir.. Please suggest a book for mathematical economics so that all the types of equations are covered.

[@ECONMATHS]

Thanks for the appreciation brother

[@ECONMATHS]

You can go for MATHEMATICAL ECONOMICS by EDWARD T. DOWLING

[@ashishughade7967]

@@ECONMATHS ok I'll see.. Thanks sir

[@darzaffar3913]

Can also calculate the area of that shaded area which is the Consumer surplus

[@jurus28]

But how we do it.. If we apply 1/2bh equation we got b that is 6...we got equilibrium price that is 9..but if we want to get it's height of triangle we want to know the consumer willingness to pay price so that we can find the difference from 9..can u explain

[@shabss7306]

sr how calculate cpi

[@sahildaswani2138]

Sir please can you this with this formula:- c.s. = 1/2 × Qd× ∆P

[@Selfcare2dy]

Sir P value kodade edre bere mathod use madbahuda
The demand function is given as p= 25-4Q find the consumer surpluse
Please solve the problem sir..

[@ECONMATHS]

I didn't get the question . Please explain as what to find

[@Selfcare2dy]

How to find the Consumer Surplus in which the P value is not given in this question..