Multiple Choice
What happens to consumer surplus if the price of a good changes
A) It increases if the price increases.
B) It decreases if the price increases.
C) It decreases if the price decreases.
D) It changes to zero if the price changes to zero.
Correct Answer:
Verified
Correct Answer:
Verified
Q163: What does consumer surplus equal<br>A)value to buyers
Q164: Figure 7-1<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1272/.jpg" alt="Figure 7-1
Q165: At the equilibrium price,which buyers will purchase
Q167: If a market is allowed to move
Q169: If demand decreases,what happens to the price
Q170: Figure 7-4<br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1272/.jpg" alt="Figure 7-4
Q171: Which quantity does producer surplus NOT measure<br>A)the
Q172: Figure 7-6<br><br> <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB1272/.jpg" alt="Figure 7-6
Q173: If the price of oak lumber increases,what
Q205: Producer surplus is the amount a seller