Yep, I’m just saying that the equilibrium change in the quantity consumed will be less than the individual’s foregone consumption, not that it will be zero. How much less depends on the elasticities of supply and demand.
Yep, I’m just saying that the equilibrium change in the quantity consumed will be less than the individual’s foregone consumption, not that it will be zero. How much less depends on the elasticities of supply and demand.