If the price of the commodity alone increases, what will be its impact

1.	If the price of the commodity alone increases, what will be its impact on consumer surplus
Answer» Explanation: CONSUMER SURPLUS is defined, in part, by the price of the product. ... ASSUMING that there is no shift in demand, an increase in price will THEREFORE lead to a REDUCTION in consumer surplus, while a decrease in price will lead to an increase in consumer surplus.

If the price of the commodity alone increases, what will be its impact on consumer surplus

Answer»

Explanation:

CONSUMER SURPLUS is defined, in part, by the price of the product. ... ASSUMING that there is no shift in demand, an increase in price will THEREFORE lead to a REDUCTION in consumer surplus, while a decrease in price will lead to an increase in consumer surplus.

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If the price of the commodity alone increases, what will be its impact on consumer surplus

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