surplus

Also known as economic surplus, total welfare, social surplus, total surplus, producer and consumer surplus, consumer and producer surplus, Marshallian surplus

monetary benefit that accrues to parties to an economic transaction

~16 min read

Article

Graph illustrating consumer (red) and producer (blue) surpluses on a supply and demand chart

In mainstream economics, economic surplus, also known as total welfare or total social welfare or Marshallian surplus (after Alfred Marshall), is either of two related quantities: