The Equivalent Variation for an increase in the price of a good is A)

The Equivalent Variation for an increase in the price of a good is

A) the reduction in a consumer’s income necessary to harm the consumer by as much as the price increase.
B) the increase in a consumer’s income necessary to eliminate the consumer’s harm from a price increase.
C) the change in consumer surplus resulting from a price increase.
D) the amount of money a consumer would accept to be subject to a price increase.

ANSWER

A