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Provide and example of a good or service that would give you either lots of or no consumer surplus. In your answer, comment on your
Provide and example of a good or service that would give you either lots of or no consumer surplus. In your answer, comment on your individual price elasticity of demand, and how total revenue is impacted as the price of this good increases. For example: "One cup of coffee is essential for me to have in the morning." This statement would tell me that my demand for coffee is very inelastic, so I would get lots of consumer surplus (a very steep demand curve). For a good that has an inelastic demand, an increase in the price would increase total revenue. Consumers are not very responsive to a price change, they purchase the good despite an increase in its price
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