If the price of a good falls while demand remains unchanged, then total consumer surplus will increase.
When customers pay less for a good or service than they are willing to, this is known as a consumer surplus. It measures the extra benefit that consumers get from paying less for something than they would have been prepared to.
The consumer surplus would be lower and inequality would be higher if markets lacked competition. Higher producer surplus and greater inequality result from lower consumer surplus. Because of the consumer surplus, consumers can choose from a broader variety of goods.
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