For any given price,the more elastic the demand for a good,the greater the consumer surplus.

Question

Quizplus · Accepted Answer

Consumer surplus is determined by the difference between what consumers are willing to pay and what they actually pay. Elasticity affects the quantity demanded at a given price, but not directly the consumer surplus. Elasticity primarily influences how much quantity changes in response to price changes, not the surplus directly.

For Any Given Price,the More Elastic the Demand for a Good,the