demand and supply increase by about the same amount (the demand curve shifts to the right and the supply curve shifts an equal distance to the right)?…
What happens to consumer surplus when both demand and supply increase by about the same amount (the demand curve shifts to the right and the supply curve shifts an equal distance to the right)?
consumer surplus will decrease.
if the price of the product is set above the free market wage, then consumer surplus will rise.
consumer surplus will increase.
consumer surplus may go up or down; it depends on the slopes of the demand and supply curves.
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