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    Macroeconomics Study Set 43
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    Exam 4: B: Market Failures: Public Goods and Externalities
  5. Question
    If the Price of a Product Increases
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If the Price of a Product Increases

Question 57

Question 57

Multiple Choice

If the price of a product increases:


A) the consumer surplus will decrease.
B) the consumer surplus will increase.
C) total revenue will increase if demand is price elastic.
D) total revenue will decrease if demand is price inelastic.

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