Figure 7-1

-Refer to Figure 7-1.When the price rises from P₁ to P₂,what happens to consumer surplus
A)It increases by an amount equal to A.
B)It decreases by an amount equal to B + C.
C)It increases by an amount equal to B + C.
D)It decreases by an amount equal to C.

Question

Figure 7-1
 
-Refer to Figure 7-1.When the price rises from P₁ to P₂,what happens to consumer surplus
A)It increases by an amount equal to A. 
B)It decreases by an amount equal to B + C. 
C)It increases by an amount equal to B + C. 
D)It decreases by an amount equal to C.

Quizplus · Accepted Answer

The Answer of Figure 7-1
 
-Refer to Figure 7-1.When the price rises from P₁ to P₂,what happens to consumer surplus
A)It increases by an amount equal to A. 
B)It decreases by an amount equal to B + C. 
C)It increases by an amount equal to B + C. 
D)It decreases by an amount equal to C.

Figure 7-1 -Refer to Figure 7-1.When the Price Rises from P₁ to Rises