Assume the market in the graph is in equilibrium at demand (D)and supply (S₁). If supply shifts to S₂, and a new equilibrium is reached, which of the following statements is true? A)Consumer surplus increases by $45. B)Producer surplus decreases by $45. C)Consumer surplus increases by $90. D)Total surplus increases by $45.

Question

Quizplus · Accepted Answer

The Answer of Assume the market in the graph is in equilibrium at demand (D)and supply (S₁). If supply shifts to S₂, and a new equilibrium is reached, which of the following statements is true? A)Consumer surplus increases by $45. B)Producer surplus decreases by $45. C)Consumer surplus increases by $90. D)Total surplus increases by $45.

Assume the Market in the Graph Is in Equilibrium at Demand