Figure 7-1 -Refer to Figure 7-1.Area C Represents the

question 47

Multiple Choice

Figure 7-1
-Refer to Figure 7-1.Area C represents the

• A) decrease in consumer surplus that results from a downward-sloping demand curve.
• B) consumer surplus to new consumers who enter the market when the price falls from P2 to P1.
• C) increase in producer surplus when quantity sold increases from Q2 to Q1.
• D) decrease in consumer surplus to each consumer in the market when the price increases from P1 to P2.