Which of the following is true?
A)A lower price will increase your consumer surplus by the amount you were buying originally, times the reduction in the price.
B)A lower price will leave unchanged your consumer surplus for each of the units you were already consuming, but will increase consumer surplus from increased purchases at the lower price.
C)A lower price will decrease your producer surplus for each of the units you were producing, but will not change producer surplus by changing the quantity sold.
D)None of the above is true.

Question

Which of the following is true?​
A)​A lower price will increase your consumer surplus by the amount you were buying originally, times the reduction in the price.
B)​A lower price will leave unchanged your consumer surplus for each of the units you were already consuming, but will increase consumer surplus from increased purchases at the lower price.
C)​A lower price will decrease your producer surplus for each of the units you were producing, but will not change producer surplus by changing the quantity sold.
D)​None of the above is true.

Quizplus · Accepted Answer

The Answer of Which of the following is true?​
A)​A lower price will increase your consumer surplus by the amount you were buying originally, times the reduction in the price.
B)​A lower price will leave unchanged your consumer surplus for each of the units you were already consuming, but will increase consumer surplus from increased purchases at the lower price.
C)​A lower price will decrease your producer surplus for each of the units you were producing, but will not change producer surplus by changing the quantity sold.
D)​None of the above is true.

Which of the Following Is True?​

Which of the Following Is True?