Assume the market was in equilibrium in the graph shown. If the market price gets set to $14, which of the following is true?
A) Some consumers gain surplus, but total surplus falls.
B) Some producers gain surplus, but total surplus falls.
C) Some producers lose surplus, but total surplus rises.
D) Some consumers lose surplus, but total surplus rises.

Question

Assume the market was in equilibrium in the graph shown. If the market price gets set to $14, which of the following is true?
A) Some consumers gain surplus, but total surplus falls. 
B) Some producers gain surplus, but total surplus falls. 
C) Some producers lose surplus, but total surplus rises. 
D) Some consumers lose surplus, but total surplus rises.

Quizplus · Accepted Answer

The Answer of  Assume the market was in equilibrium in the graph shown. If the market price gets set to $14, which of the following is true?
A) Some consumers gain surplus, but total surplus falls. 
B) Some producers gain surplus, but total surplus falls. 
C) Some producers lose surplus, but total surplus rises. 
D) Some consumers lose surplus, but total surplus rises.

Assume the Market Was in Equilibrium in the Graph Shown