Consumer and producer surplus  Integration Applications
Consumer and producer surplus
Basic concepts:
 USubstitution
 Areas between curves
Lessons
Notes:
Let $S(q)$ and $D(q)$ be supply and demand curves in terms of $q$, where $q$ is the quantity.
Then we calculate the producer and consumer surplus by using the following formulas:
$PS$ (producer surplus) = $\int_{0}^{\overline q} [\overline p  S(q)] dq$
$CS$ (consumer surplus) = $\int_{0}^{\overline q} [D(q)  \overline p] dq$
Where $\overline p$ and $\overline q$ are equilibrium prices and quantity.

1.
Consumer and Producer Surplus Overview: