**Introduction**

When the price of a good falls, it disrupts the equilibrium of the consumer who is consuming that good. In order to stay in equilibrium, the consumer must adjust their consumption behavior accordingly. This can be achieved through a combination of substitution and income effects. In this response, we will explore the actions that the consumer should take to stay in equilibrium when the price of a good falls.

**Substitution Effect**

The substitution effect occurs when the consumer switches their consumption towards a substitute good due to the relative change in prices. In this case, when the price of the good falls, it becomes relatively cheaper compared to other goods in the market. To stay in equilibrium, the consumer should:

1. **Identify substitute goods:** The consumer should identify other goods that can provide a similar level of satisfaction or utility. These substitute goods should have a relatively higher price compared to the good that experienced a price fall.
2. **Evaluate relative prices:** The consumer should compare the new price of the good with the prices of the identified substitute goods. If the price of the good is still relatively lower, it indicates that the substitution effect has not fully occurred, and the consumer should continue to switch consumption towards the good.
3. **Adjust consumption:** The consumer should increase their consumption of the good that experienced a price fall and decrease their consumption of the substitute goods. This adjustment will help the consumer maintain their desired level of satisfaction and utility.

**Income Effect**

The income effect refers to the change in purchasing power due to a change in price. When the price of a good falls, the consumer's real income increases because they can purchase more of the good with the same amount of money. To stay in equilibrium, the consumer should:

1. **Assess income change:** The consumer should evaluate the extent to which their purchasing power has increased due to the price fall. This can be done by comparing the new price with their current income level.
2. **Determine optimal consumption:** The consumer should determine their optimal consumption level based on their new purchasing power. They should consider their preferences, needs, and budget constraints to decide the quantity of the good they want to consume.
3. **Adjust consumption:** The consumer should revise their consumption behavior by increasing their consumption of the good that experienced a price fall. This adjustment will help the consumer maintain their desired level of satisfaction and utility while taking advantage of the increased purchasing power.

**Conclusion**

In conclusion, when the price of a good falls, the consumer can stay in equilibrium by utilizing the substitution and income effects. By identifying substitute goods and adjusting their consumption patterns, the consumer can maintain their desired level of satisfaction. Additionally, by assessing their increased purchasing power and adjusting their consumption accordingly, the consumer can optimize their utility. Understanding and responding to these effects are crucial for consumers to adapt to changes in the market and maintain their equilibrium.

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