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The Total Surplus calculator computes the Total Surplus which is the sum of the Consumer Surplus and the Producer Surplus based on the Value to Buyers, Amount Paid by Buyers, the Amount Received by Sellers, and the Cost to the Sellers.
INSTRUCTIONS: Choose units and enter the following:
- (VB) This is the Value to the Buyer
- (APB) This is the Amount paid by Buyer
- (ARS) This is the Amount Received by Seller
- (CTS) This is the Cost to Seller
Total Surplus (TS): The calculator returns the surplus in U.S. dollars. However, this can be automatically converted to compatible units via the pull-down menu.
The Math / Science
Total Surplus is the sum of the Consumer Surplus and the Producer Surplus. The sum of the Consumer Surplus and the Producer Surplus are the differences between their cost and the value received. The formula for Total Surplus is:
TS = (VB-APB)+(ARS-CTS)
where:
- TS = Total Surplus
- VB = Value to Buyers
- APB = Amount Paid by Buyers
- ARS = Amount Received by Sellers
- CTS = Cost to Sellers
Macroeconomics Calculators
- Income Elasticity of Demand
- Cross-Price Elasticity of Demand
- Price Elasticity of Demand
- Price Elasticity of Supply
- Total Surplus
- Consumer Surplus
- Producer Surplus
- GDP Growth
- GDP Deflator
- GDP by Income
- GDP Expenditure
- Net Capital Outflow
- Net Exports and Net Capital Outflow
- Dollar Conversion from Different Times
- Unemployment Rate (Friedman and Phelps)
- National Saving
- Domestic Investment
- Unemployment Rate
- Inflation Rate in Year 2 (using CPI)
- Labor Force
- Labor-Force Participation Rate
- Net Exports
- Real Exchange Rate
- Currency Converter
- Midpoint Method for Price Elasticity of Demand
- Income Elasticity of Demand
- Simple Price Elasticity of Demand
Reference:
- Mankiw, N. Gregory. "Chapter 7:Market Efficiency." Principles of Macroeconomics. 6th ed. Mason, OH: Thomson/South-Western, 2004. 145-46. Print.
