Multiple Choice
Which is FALSE? When the price of gasoline is above equilibrium
A) some producer surplus is lost because the higher price causes some consumers not to buy.
B) producers benefit because some consumers still buy gasoline at the higher price.
C) some producer surplus is transferred from producers to consumers who buy the gasoline at the higher price.
D) deadweight loss is created.
Correct Answer:
Verified
Correct Answer:
Verified
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