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Assume a Market That Has an Equilibrium Price of $5

Question 34

Multiple Choice

Assume a market that has an equilibrium price of $5.If the market price is set at $9,producer surplus:


A) rises for some producers because of the increased price.
B) decreases for some producers because of fewer transactions taking place.
C) Both A and B are true.
D) Neither of these statements is true.

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