Surplus means there will be excess supply, meaning demand will fall, and so will prices
The price that exists when a market is clear of shortage and surplus, or is in equilibrium.
the price goes down
When the price is above equilibrium, there is a surplus because supply is greater than demand. The price of the good will naturally decrease back to its equilibrium price where demand and suppy interesect, thus eliminating the surplus.
Consumers bid up the price.
it always increases
The price that exists when a market is clear of shortage and surplus, or is in equilibrium.
the price goes down
When the price is above equilibrium, there is a surplus because supply is greater than demand. The price of the good will naturally decrease back to its equilibrium price where demand and suppy interesect, thus eliminating the surplus.
Consumers bid up the price.
it always increases
Consumer surplus exists in the market because consumers are willing to pay more for a product than the actual price they pay. This difference between what consumers are willing to pay and what they actually pay creates a surplus value for consumers.
Shortages, Surplus and Unintended consequences.
there is a surplus
A price floor can cause a surplus while a price ceiling can cause a shortage but not always.
Consumer surplus exists in a market for a good because consumers are willing to pay more for a product than the actual price they end up paying. This difference between what consumers are willing to pay and what they actually pay creates a surplus value for consumers.
A surplus in crops
the customer surplus increase