Consumer surplus - the difference between what a consumer is willing to pay and what they actually pay. Aggregate consumer surplus measures consumer welfare.
Producer surplus - the difference...
Once the supply is decreased, consumer surplus will decrease. Producer surplus will decrease as well because neither is at the equillibrium. There will be a surplus leftover after the price...
If the price floor was set below the equilibrium price, then the removal of this price floor would have no effect on producer and consumer surplus. If the price floor was set above the equilibrium...
If an organisation as to survive for a long term ,then the organisation as to think on consumer surplus . later on it creats the demand for a particular product or goods.
consumer surplus is very...