-Refer to Exhibit 4-8

Multiple Choice

-Refer to Exhibit 4-8.Suppose that wheat producers lobby the government for a price floor and receive one.This price floor is set at P_F.What has happened to the consumers' surplus as a result of the imposition of the price floor?

A) consumers' surplus has gone down by (area 2 + 4)
B) consumers' surplus has risen by (area 2 + 4)
C) consumers' surplus has gone down by (area 3 - area 5)
D) consumers' surplus has risen by (area 2 + 3)