Joe's demand for spring water can be represented as p = 10 - Q (where p is measured in $/gallon and Q is measured in gallons). He recently discovered a spring where water can be obtained free of charge. His consumer surplus from this water is

The demand for corn increases. As a result, the price of corn will ________, and the less elastic the supply of corn, the ________ will be the effect on the price

A) fall; smaller B) fall; greater C) rise; smaller D) rise; greater

Third parties can be unintentionally affected by the market activity of others

Indicate whether the statement is true or false