QUESTION 26 All else equal, what happens to consumer surplus if the price of a good...

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QUESTION 26 All else equal, what happens to consumer surplus if the price of a good increases? Consumer surplus increases. Consumer surplus decreases. Consumer surplus is unchanged. Consumer surplus may increase, decrease, or remain unchanged. QUESTION 27 Producer surplus is measured using the demand curve for a good. always a negative number for sellers in a competitive market. the amount a seller is paid minus the cost of production. the opportunity cost of production minus the cost of producing goods that go unsold. QUESTION 28 Suppose the demand for peanuts increases. What will happen to producer surplus in the market for peanuts? It increases. It decreases. It remains unchanged. It may increase, decrease, or remain unchanged. QUESTION 29 Total surplus is represented by the area below the demand curve and above the price. price and up to the point of equilibrium. demand curve and above the supply curve, up to the equilibrium quantity. demand curve and above the horizontal axis, up to the equilibrium quantity. QUESTION 26 All else equal, what happens to consumer surplus if the price of a good increases? Consumer surplus increases. Consumer surplus decreases. Consumer surplus is unchanged. Consumer surplus may increase, decrease, or remain unchanged. QUESTION 27 Producer surplus is measured using the demand curve for a good. always a negative number for sellers in a competitive market. the amount a seller is paid minus the cost of production. the opportunity cost of production minus the cost of producing goods that go unsold. QUESTION 28 Suppose the demand for peanuts increases. What will happen to producer surplus in the market for peanuts? It increases. It decreases. It remains unchanged. It may increase, decrease, or remain unchanged. QUESTION 29 Total surplus is represented by the area below the demand curve and above the price. price and up to the point of equilibrium. demand curve and above the supply curve, up to the equilibrium quantity. demand curve and above the horizontal axis, up to the equilibrium quantity.

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