Question: (Figure: Determining Surplus and Loss) Consider the graph. If the price is raised from $8 to $12, a surplus of P 16 I i l

(Figure: Determining Surplus and Loss) Consider the graph. If the price is raised from $8 to $12, a surplus of P 16 I i l l 12 -ll- l 20 40 an 0 $140 is transferred from producers to consumers. O $80 is transferred from consumers to producers. O $140 is transferred from consumers to producers. O $80 is transferred from producers to consumers

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