Assume the market is in equilibrium in the graph shown at demand D and supply S₂.If the supply curve shifts to S₁,and a new equilibrium is reached,which of the following is true? A) Producer surplus would increase, and total surplus would increase. B) Producer surplus would decrease, and total surplus would increase. C) Producer surplus would increase, and total surplus would decrease. D) Producer surplus would decrease, and total surplus would decrease.

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The Answer of Assume the market is in equilibrium in the graph shown at demand D and supply S₂.If the supply curve shifts to S₁,and a new equilibrium is reached,which of the following is true? A) Producer surplus would increase, and total surplus would increase. B) Producer surplus would decrease, and total surplus would increase. C) Producer surplus would increase, and total surplus would decrease. D) Producer surplus would decrease, and total surplus would decrease.

Assume the Market Is in Equilibrium in the Graph Shown