The price of video cassette recorders (VCRs) remains constant, but the market demand curve for VCRs shifts leftward as consumers shift to DVDs and other video technologies. What happens to the consumer surplus in this market as the demand curve shifts?

Question

Quizplus · Accepted Answer

When the demand curve shifts leftward, it means that consumers are willing to buy fewer VCRs at any given price. This leads to a decrease in consumer surplus as some consumers can no longer find a VCR at a price they are willing to pay.

The Price of Video Cassette Recorders (VCRs) Remains Constant, but the Market