The answer is: "A reduction in consumers' surplus." What is the question?
A) What is an effect of a rise in price?
B) What is an effect of a tariff?
C) What is an effect of a quota?
D) a and b
E) a,b,and c

Question

Quizplus · Accepted Answer

A reduction in consumers' surplus can occur due to a rise in price, the imposition of a tariff, or the establishment of a quota. All these actions increase the price of goods to consumers, thereby reducing the consumer surplus, which is the difference between what consumers are willing to pay and what they actually pay.

The Answer Is: "A Reduction in Consumers' Surplus