________ in consumer surplus occurs when the price of a good ________.
A) An increase; decreases and consumers can buy more of the good at the lower price
B) A decrease; decreases and consumers buy less of the good at the cheaper price
C) An increase; decreases and consumer efficiency declines
D) A decrease; increases and the paradox of value is no longer valid
E) An increase; increases but the relative price does not change

Question

Quizplus · Accepted Answer

An increase in consumer surplus occurs when the price of a good decreases because consumers can buy more of the good at the lower price, thus increasing the difference between what they are willing to pay and what they actually pay.

________ in Consumer Surplus Occurs When the Price of a Good