Discover a wealth of knowledge at Westonci.ca, where experts provide answers to your most pressing questions. Join our Q&A platform to connect with experts dedicated to providing accurate answers to your questions in various fields. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.
Sagot :
If the price of a good rises while demand remains unchanged, then the total consumer surplus will decrease.
As the price of good rises, consumer surplus decreases, and because the fee of a good falls, consumer surplus will increase. The distinction between the lowest fee a firm might be willing to accept and the rate it clearly receives.
Consumer surplus is defined as the distinction between the entire amount that consumers are inclined and capable of pay for a great or provider (indicated with the aid of the call for curve) and the full amount that they surely do pay (i.e. the market charge).
An increase in demand reasons equilibrium prices to grow. A lower in call for reasons equilibrium charge to decrease.
Learn more about consumer surplus here: https://brainly.com/question/380921
#SPJ4
We appreciate your time on our site. Don't hesitate to return whenever you have more questions or need further clarification. We appreciate your visit. Our platform is always here to offer accurate and reliable answers. Return anytime. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.
