The market for good X is in equilibrium at a price of $\$10$. The government then chooses to impose a maximum price on good X. Which maximum price would lead to the greatest change in consumer surplus?
- A$9$
- B$10$
- C$11$
- D$12$
Economics 9708 · AS & A Level · Maximum and minimum prices
The market for good X is in equilibrium at a price of $\$10$. The government then chooses to impose a maximum price on good X. Which maximum price would lead to the greatest change in consumer surplus?