If the market price of a product increases, then the total
A)consumer surplus will decrease.
B)consumer surplus will increase.
C)revenues of sellers will definitely increase.
D)revenues of sellers will definitely decrease.

Question

Quizplus · Accepted Answer

When the market price of a product increases, consumer surplus, which is the difference between what consumers are willing to pay and what they actually pay, will decrease because consumers are paying more for the same product.

If the Market Price of a Product Increases, Then the Total