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Assume the Market Depicted in the Graph Is in Equilibrium

Question 11

Multiple Choice

Assume the market depicted in the graph is in equilibrium. If the market goes from equilibrium to having its price set at $18: A) consumer surplus will rise by $6,750. B) producer surplus will fall by $4,500. C) total surplus will rise by $2,250. D) total surplus will fall by $2,250. Assume the market depicted in the graph is in equilibrium. If the market goes from equilibrium to having its price set at $18:


A) consumer surplus will rise by $6,750.
B) producer surplus will fall by $4,500.
C) total surplus will rise by $2,250.
D) total surplus will fall by $2,250.

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