When there is a bountiful harvest of grapefruit,assuming that the demand curve for grapefruit is downward-sloping,total consumer surplus in the grapefruit market:
A)will increase.
B)will decrease.
C)will remain the same.
D)may change,but we can't tell how.

Question

Quizplus · Accepted Answer

When there is a bountiful harvest of grapefruit, this will lead to an increase in the supply of grapefruit, causing the equilibrium price to decrease. This decrease in price will result in an increase in consumer surplus, as consumers are able to purchase more grapefruit at a lower price, resulting in a higher overall level of satisfaction.

When There Is a Bountiful Harvest of Grapefruit,assuming That the Demand