Total consumer surplus will decrease if the price of a good rises while demand remains unchanged.
As always, consumer surplus will increase if the price of a good falls and decreases as the price of good rises.
Consumer surplus occurs when the price consumers pay for consumption is actually less than the price they are willing to pay! From another perspective, it happens when the consumer is willing to pay more for a given product than the current market price. Just remember the law of demand and supply: the more of the product/goods or services that we consumers have, the less we want to spend for more of it.
Do you know that good feeling you have during sales at the mall or when you are at a thrift shop because you can get better deals than anticipated? That's consumer surplus!
Learn what will happen to consumer surplus if market price falls caused by a change in supply: https://brainly.com/question/27856742
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