Which of the following is true when the price of a good or service falls?
A)Buyers who were already buying the good or service are worse off.
B)More buyers enter the market.
C)The total consumer surplus in the market decreases.
D)The total value of purchases before and after the price change is the same.

Question

Quizplus · Accepted Answer

When the price of a good or service falls, it becomes more affordable, attracting more buyers into the market. This is because the lower price makes the good or service accessible to individuals who previously found it too expensive.

Which of the Following Is True When the Price of a Good