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14 August, 03:53

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

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  1. 14 August, 05:34
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    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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