Assume the market was in equilibrium in the graph shown.If the market price were set to $12,which of the following is true?
A) For those still interacting in the market, some surplus is transferred from buyer to seller.
B) For those still interacting in the market, some surplus is transferred from seller to buyer.
C) Producers gain the surplus of those buyers who dropped out of the market.
D) Consumers gain the surplus of those sellers who dropped out of the market.

Question

Assume the market was in equilibrium in the graph shown.If the market price were set to $12,which of the following is true?
A) For those still interacting in the market, some surplus is transferred from buyer to seller. 
B) For those still interacting in the market, some surplus is transferred from seller to buyer. 
C) Producers gain the surplus of those buyers who dropped out of the market. 
D) Consumers gain the surplus of those sellers who dropped out of the market.

Quizplus · Accepted Answer

The Answer of  Assume the market was in equilibrium in the graph shown.If the market price were set to $12,which of the following is true?
A) For those still interacting in the market, some surplus is transferred from buyer to seller. 
B) For those still interacting in the market, some surplus is transferred from seller to buyer. 
C) Producers gain the surplus of those buyers who dropped out of the market. 
D) Consumers gain the surplus of those sellers who dropped out of the market.

Assume the Market Was in Equilibrium in the Graph Shown