Suppose that at the equilibrium price of $50, the equilibrium quantity is 400 units and consumer surplus is $8,000.  If the equilibrium price falls to $40 and the equilibrium quantity increased to 450 units then consumer surplus increases by $4,500. Is this true? Show all the calculations

Economics For Today
10th Edition
ISBN:9781337613040
Author:Tucker
Publisher:Tucker
Chapter4: Markets In Action
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Suppose that at the equilibrium price of $50, the equilibrium quantity is 400 units and consumer surplus is $8,000.  If the equilibrium price falls to $40 and the equilibrium quantity increased to 450 units then consumer surplus increases by $4,500. Is this true? Show all the calculations

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