The figure above shows Clara's demand for CDs. If the price of a CD were to increase from $15 to $25, Clara's total consumer surplus for all the CDs she buys would
A) decrease by $40.
B) remain unchanged.
C) decrease by $90.
D) increase by $80.
A
Economics
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What happens to the price and quantity sold of a drug when its patent runs out? (i) The price will fall. (ii) The quantity sold will fall. (iii) The marginal cost of producing the drug will rise
a. (i) only b. (i) and (ii) only c. (ii) and (iii) only d. (i), (ii), and (iii)
Economics
The price feedback effect explains how an increase in the price level in one country can drive up prices in other countries, which, in turn, further increases the price level in the first country.
Answer the following statement true (T) or false (F)
Economics