What happens to consumer surplus if price is above equilibrium? What happens to producer surplus if price is above equilibrium? Group of answer choices b. Consumer surplus definitely increases. Producer surplus may rise, fall, or remain unchanged depending on how steep demand and supply curves are. a. Consumer surplus definitely falls. Producer surplus may rise, fall, or remain unchanged depending on how steep demand and supply curves are. c. Consumer surplus may rise, fall, or remain unchanged depending on how steep demand and supply curves are definitely falls. Producer surplus definitely increases. d. Consumer surplus may rise, fall, or remain unchanged depending on how steep demand and supply curves are definitely falls. Producer surplus definitely falls