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The Answer Is: "The Difference Between the Price Buyers Pay

Question 84

Multiple Choice

The answer is: "The difference between the price buyers pay for a good and the maximum or highest price they would have paid for the good." This is the definition for


A) taxes.
B) producers' surplus.
C) consumers' surplus.
D) the sum of producers' and consumers' surpluses.
E) the welfare triangle.

Correct Answer:

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