cursor over numbered circles to view features on the graph.)
-- Total savings to consumers who are willing to pay a higher price
than the equilibrium price p'.
-- Total savings to the producer who is willing to supply the product
at a price lower than the equilibrium price p'.
-- The equilibrium point.
q' -- The equilibrium quantity.
p' -- The equilibrium price.
Note: At the equilibrium
point, (q', p'), the supply equals the demand.
See how to turn Sam's problem into a system of equations in the "Solution