When Demand for a Product Falls, Ceteris Paribus, What Happens

question 27

Multiple Choice

When demand for a product falls, ceteris paribus, what happens to equilibrium price and consumer surplus at that price?

• A) Equilibrium price rises and consumer surplus falls.
• B) Equilibrium price falls and consumer surplus falls.
• C) Equilibrium price rises and consumer surplus rises.
• D) Equilibrium price falls and consumer surplus rises.

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