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Figure 7-16 -Refer to Figure 7-16.If the Price of the Good Is

Question 3

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Figure 7-16 Figure 7-16 -Refer to Figure 7-16.If the price of the good is $600,then A) consumer surplus is $800. B) consumer surplus is $900. C) producer surplus is $900. D) producer surplus is $1,000.
-Refer to Figure 7-16.If the price of the good is $600,then


A) consumer surplus is $800.
B) consumer surplus is $900.
C) producer surplus is $900.
D) producer surplus is $1,000.

Correct Answer:

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