All else equal, what happens to consumer surplus if the price of a good decreases?

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21-03-2017
Business

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All else equal, what happens to consumer surplus if the price of a good decreases?

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Greenleafable Greenleafable · Answer 1 · 2017-03-29T21:54:13+02:00

Greenleafable Greenleafable

29-03-2017

This is the basics of the law of supply and demand. If the price of a good decreases then the consumer surplus will increase. It also works vice-versa. If things become cheaper more people will buy it, and if it goes up then fewer people will buy it.

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