Welfare economics Equilibrium in the market results in maximum benefits, and therefore maximum total welfare for both the consumers and the producers of the product o Consumer surplus measures economic welfare from the buyer's side o Producer surplus measures economic welfare from the seller's sideWelfare Economics • Equilibrium in the market results in maximum benefits, and therefore maximum total welfare for both the consumers and the producers of the product. • Consumer surplus measures economic welfare from the buyer’s side. • Producer surplus measures economic welfare from the seller’s side