Use the Following to Answer Question

Multiple Choice

Use the following to answer question:
Figure 3.3
-(Figure 3.3) The decrease in supply from S₁ to S₂ will cause consumer surplus to _____ and producer surplus to _____.

A) decrease by $10.50; decrease by $4.50
B) decrease by $5.50; increase by $3
C) increase by $6; decrease by $18
D) increase by $8.75; increase by $6.67