Viewing a response to: @spectrumecons/economic-concepts-14-price-discrimination
Wow, this is well written by all means. The four degree price discrimination is something I'm just learning, so I want to ask a question. So if I'm willing to pay less for a commodity because I feel that I can get other complimentary goods that are related, but well still end up paying less can I call that consumer surplus?
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As long as you pay less than what you are willing to pay, you obtain consumer surplus. I would expect complementary goods to increase your consumer surplus as you have more reason to own something. For example, if several really great PS4 games are released. Your willingness to pay for a PS4 console will increase. If the price of the PS4 console remains the same, you will obtain a higher consumer surplus than before the release of the new games. The availability of substitutes reduces our consumer surplus as we have an option to obtain something else similar. Therefore, our willingness to pay falls and so does our consumer surplus.
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