Along a demand curve, product price and consumer surplus are inversely related.

Name: Along a demand curve, product price and consumer surplus are inversely related.
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Question

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As price decreases along a demand curve, the consumer surplus increases. This is because consumers are willing to pay more than the actual price they end up paying, resulting in a surplus benefit for them. Therefore, price and consumer surplus are inversely related.

Along a Demand Curve, Product Price and Consumer Surplus Are