Multiple Choice
Suppose that a consumer's demand curve for a good can be expressed as P = 50 - 4Qd. Suppose that the market is initially in equilibrium at a price of $10. Now suppose that the price rises to $14. What is the change in consumer surplus?
A) An increase of 38.
B) A decrease of 38.
C) A decrease of 42.
D) A decrease of 36.
Correct Answer:
Verified
Correct Answer:
Verified
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