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    Principles of Economics
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    Exam 7: Consumers, Producers and the Efficiency of Markets
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    Using a Demand-Supply Diagram, Completing the Labels, Identify the Following
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Using a Demand-Supply Diagram, Completing the Labels, Identify the Following

Question 121

Question 121

Essay

Using a demand-supply diagram, completing the labels, identify the following areas:
a.consumer surplus.
b.producer surplus.
c.total surplus.

Correct Answer:

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