The equilibrium price and quantity occur at the intersection of the demand and supply curves. Therefore, $40 per scooter represents the equilibrium price, and 1,440 electric scooters represents the equilibrium quantity. Consumer surplus is the difference between the price a buyer is willing to pay and the price the buyer actually pays. The demand curve represents buyers' willingness to pay, and in the market for electric scooters, buyers pay the equilibrium price of $40 per scooter. As a result, consumer surplus can be depicted graphically as the triangular area below the demand curve, above the equilibrium price, and to the left of the equilibrium quantity. Producer surplus is the difference between the price a seller receives and the minimum price the seller would be willing to accept. In the market for electric scooters, sellers receive the equilibrium price, and the supply curve indicates the price they would be willing to accept. Graphically, producer surplus is the triangular area above the supply curve, below the equilibrium price, and to the left of the equilibrium quantity