The ___________ surplus will rise if the price of the good ________.
A)consumer;rises
B)consumer;falls
C)producer;falls

Question

Quizplus · Accepted Answer

When the price of a good falls, consumers benefit from a lower price, leading to an increase in the quantity demanded. This results in a larger consumer surplus, as more consumers are able to purchase the good at a more affordable price. Conversely, a rise in the price of the good would lead to a decrease in consumer surplus, as fewer consumers would be willing and able to purchase the good at the higher price. The other choices (A and C) do not accurately reflect the relationship between price and surplus for consumers or producers.

The ___________ Surplus Will Rise If the Price of the Good