22) Assume your demand for Tango remains constant, but the price of Tango increases. Your consumer surplus A) increases. B) decreases. C) remains constant. D) may increase or decrease depending on the amount of the price decrease

22) Assume your demand for Tango remains constant, but the price of Tango increases. Your consumer surplus A) increases. B) decreases. C) remains constant. D) may increase or decrease depending on the amount of the price decrease

Managerial Economics: A Problem Solving Approach

5th Edition

ISBN:9781337106665

Author:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Chapter6: Simple Pricing

Section: Chapter Questions

Problem 6MC

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22) Assume your demand for Tango remains constant, but the price of Tango increases. Your consumer surplus

A) increases.
B) decreases.
C) remains constant.
D) may increase or decrease depending on the amount of the price decrease

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