If Demand for a Product Rises, What Happens to Consumer

question 33

Multiple Choice

If demand for a product rises, what happens to consumer surplus, assuming supply holds steady and the market sells at equilibrium prices?

• A) Consumer surplus will be larger after the increase in demand.
• B) Consumer surplus will be smaller after the increase in demand.
• C) Consumer surplus will remain unchanged after the increase in demand.
• D) There is no way to predict whether consumer surplus will change.

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