Figure 7-1 -Refer to Figure 7-1.Which Does NOT Occur When the Price

question 105

Multiple Choice

Figure 7-1

-Refer to Figure 7-1.Which does NOT occur when the price rises from P₁ to P₂

• A)The buyers who still buy the good are worse off because they now pay more.
• B)Some buyers leave the market because they are not willing to buy the good at the higher price.
• C)The total value of what is now purchased by buyers is actually higher.
• D)Consumer surplus in the market falls.

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