Assume the market depicted in the graph is in equilibrium. If the market goes from equilibrium to having its price set at $18:
A) consumer surplus will rise by $6,750.
B) producer surplus will fall by $4,500.
C) total surplus will rise by $2,250.
D) total surplus will fall by $2,250.

Question

Assume the market depicted in the graph is in equilibrium. If the market goes from equilibrium to having its price set at $18:
A) consumer surplus will rise by $6,750. 
B) producer surplus will fall by $4,500. 
C) total surplus will rise by $2,250. 
D) total surplus will fall by $2,250.

Quizplus · Accepted Answer

The Answer of  Assume the market depicted in the graph is in equilibrium. If the market goes from equilibrium to having its price set at $18:
A) consumer surplus will rise by $6,750. 
B) producer surplus will fall by $4,500. 
C) total surplus will rise by $2,250. 
D) total surplus will fall by $2,250.

Assume the Market Depicted in the Graph Is in Equilibrium