Figure 7-2 -Refer to Figure 7-2.When the Price Rises from P1 to Rises

question 38

Multiple Choice

Figure 7-2

-Refer to Figure 7-2.When the price rises from P1 to P2,which of the following statements is not true?

• 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) Buyers place a higher value on the good after the price increase.
• D) Consumer surplus in the market falls.

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