All Else Equal,what Happens to Consumer Surplus If the Price

question 69

Multiple Choice

All else equal,what happens to consumer surplus if the price of a good decreases?

• A)Consumer surplus increases.
• B)Consumer surplus decreases.
• C)Consumer surplus is unchanged.
• D)Consumer surplus may increase,decrease,or remain unchanged.

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Definitions:

First-Class Tickets

Tickets that provide the highest level of service and amenities offered by an airline, train, or other transportation service.

Income

The total amount of money earned or received by an individual or entity from various sources.

Price

The sum required, anticipated, or paid in currency as a swap for goods.

Miles

A unit of distance measurement equal to 5,280 feet or approximately 1.609 kilometers, commonly used in the United States.