(Figure: Price and Quantity IV) Suppose the government mandates a price ceiling of $8 per pound. Consumer surplus:
A) increases by $700.
B) increases by $800.
C) increases by $300.
D) decreases by $150.

Question

(Figure: Price and Quantity IV) Suppose the government mandates a price ceiling of $8 per pound. Consumer surplus: 
A) increases by $700. 
B) increases by $800. 
C) increases by $300. 
D) decreases by $150.

Quizplus · Accepted Answer

The Answer of (Figure: Price and Quantity IV) Suppose the government mandates a price ceiling of $8 per pound. Consumer surplus: 
A) increases by $700. 
B) increases by $800. 
C) increases by $300. 
D) decreases by $150.

(Figure: Price and Quantity IV) Suppose the Government Mandates a Price