Use the following to answer question:
-(Figure: Consumer Surplus III)In the figure Consumer Surplus III,when the price rises from $30 to $35,consumer surplus _____ for a total consumer surplus of _____.
A)decreases by $15;$34
B)increases by $15;$64
C)increases by $25;$74
D)decreases by $5;$44

Question

Use the following to answer question: 
-(Figure: Consumer Surplus III)In the figure Consumer Surplus III,when the price rises from $30 to $35,consumer surplus _____ for a total consumer surplus of _____.
A)decreases by $15;$34 
B)increases by $15;$64 
C)increases by $25;$74 
D)decreases by $5;$44

Quizplus · Accepted Answer

When the price rises from $30 to $35, the area representing consumer surplus decreases because consumers are paying more for the same quantity of goods. The decrease in consumer surplus is calculated based on the change in the area under the demand curve but above the new price level. The specific amounts ($15 decrease to a total of $34) would be determined by the specifics of the demand curve and the price change in the figure referenced.

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