Along a given downward-sloping demand curve,an increase in the price of a good will:

A) increase consumer surplus.
B) decrease consumer surplus.
C) have no effect on consumer surplus.
D) decrease producer surplus.

Consumer Surplus

The difference between the maximum amount a consumer is willing to pay for a good or service and the amount they actually pay.

Demand Curve

A visual diagram that illustrates the connection between a product's price and the amount consumers want to purchase.