Cable prices may not fall due to bundling, market power, and infrastructure costs. Consumer surplus happens when the price paid is below what a consumer values a good.
The reason cable prices aren't falling despite the rise of streaming services like Netflix could be due to various factors:
Consumers receiving a large consumer surplus occurs when the price they pay for a good is lower than the highest price they are willing to pay. For example, buying a discounted airline ticket can lead to a consumer surplus when the price is lower than what the consumer values the flight at.
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