Which of the following is not true about consumer surplus? a. Consumer surplus is the difference between

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Which of the following is not true about consumer surplus?

a. Consumer surplus is the difference between what consumers are willing to pay and what they actually pay.

b. Consumer surplus is shown graphically as the area under the demand curve but above the market price.

c. An increase in the market price due to a decrease in supply will increase consumer surplus.

d. A decrease in market price due to an increase in supply will increase consumer surplus.

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Exploring Microeconomics

ISBN: 9781544339443

8th Edition

Authors: Robert L. Sexton

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Question Posted: May 19, 2024 03:01 AM

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Which of the following is not true about consumer surplus? a. Consumer surplus is the difference between

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Exploring Microeconomics

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