Author Question: When price decreases, consumer surplus a. increases b. remains constant c. decreases d. becomes ... (Read 114 times)

NguyenJ · **on:** Jul 1, 2018

When price decreases, consumer surplus
a. increases
b. remains constant
c. decreases
d. becomes negative
e. may increase or decrease

Question 2

Consumer surplus is
a. the amount by which quantity supplied exceeds quantity demanded at the current market price
b. the amount by which quantity demanded exceeds quantity supplied at the current market price
c. the change in total utility derived from a one-unit change in the consumption of a good
d. the difference between the price of the good paid by the consumer and the costs of production to the seller
e. the difference between the maximum amount that a consumer is willing to pay for a given amount of a good and the amount that the consumer actually pays