Assume the Market Depicted in the Graph Is in Equilibrium

Multiple Choice

Assume the market depicted in the graph is in equilibrium. If the market price is set to $7, which of the following statements is true?

A) Some producers will gain surplus, but total surplus will fall.
B) Some producers will lose surplus, but total surplus will rise.
C) Some consumers will gain surplus, but total surplus will fall.
D) Some consumers will lose surplus, but total surplus will rise.