Which of the following will cause a decrease in consumer surplus?   a. an increase in the number of sellers of the good   b. a decrease in the production cost of the good   c. sellers expect the price of the good to be lower next month   d. the imposition of a binding price floor in the market

Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter9: Price Takers And The Competitive Process
Section: Chapter Questions
Problem 14CQ
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Which of the following will cause a decrease in consumer surplus?

 

a.

an increase in the number of sellers of the good

 

b.

a decrease in the production cost of the good

 

c.

sellers expect the price of the good to be lower next month

 

d.

the imposition of a binding price floor in the market

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