Replies should be substantive and probe, question or further justify the post of the student to whom you are replying. Each reply should be at least 75 words. Lane Harrell Jan 23 1:28pm Manage Discussion by Lane Harrell Reply from Lane Harrell 1. Even though the cable prices are not dropping I do not think that means that supply and demand is failing. I have a few of my own thoughts as well some things to point out from the powerpoint. I know that cable is becoming a thing of the past, but there are many people who still use it. It may be because they are more familiar with cable than a bunch of different streaming services or they may like the simplicity of cable better. I know my family took a while to make the switch to streaming services. I also read in the powerpoint that factors that affect demand include changes in the price of a substitute good. I think that the substitute good can be streaming services in this scenario. 2. I was in the market for a new hunting bow and when I was looking through my options and pricing bows I realized that a nice bow was going be be around $1200. I knew I wanted something nicer than my youth bow that I had outgrown so I was willing to spend the money for something really nice. Luckily I caught the bow on sale for 40% off. I only paid roughly $720. Consumer surplus is the amount that an individual would have been willing to pay minus the amount they actually payed. So for me the consumer surplus was $480. • Reply to post from Lane HarrellReply • Ryan Taylor Jan 23 12:29pm Manage Discussion by Ryan Taylor Reply from Ryan Taylor 1. One reason why cable prices remain high is the market structure of the cable industry. Many cable providers operate in a large or small firm environment, where a few companies dominate the market. This lack of competition allows these providers to maintain higher prices despite the availability of substitutes. Additionally, cable companies often complement bundle services such as live sports, news, and exclusive content that streaming services may not fully replicate. This makes it difficult for consumers to compare prices directly with streaming services. Being this bundling strategy, it creates a perception value that keeps consumers tied to their cable subscriptions. 2. Recently, I purchased a new climbing deer stand that I had been eyeing for some time. The concept of consumer surplus refers to the difference between what a consumer is willing to pay for a good or service and what they actually pay. In this case, I was willing to pay $250 for the climbing deer stand, given its features and brand reputation. However, I found it on sale for $200, resulting in a consumer surplus of $50. The consumer surplus reflects the satisfaction I gained from the purchase, as I received a product that exceeded my expectations while paying less than I was prepared to spend. The climbing deer stand not only met my needs for quality material and mobility, but it also provided additional comfort like a netted seat that can be arranged to my liking and a rail that I can connect a certain way to be used as a footrest. 
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