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Assume That the Supply Curve for Corn Is Upward-Sloping

Question 113

Multiple Choice

Assume that the supply curve for corn is upward-sloping.In the market for corn,a primary input in the production of ethanol,total surplus _____ when the price of ethanol increases.


A) increases
B) decreases
C) does not change
D) The answer cannot be determined without information about the supply curve.

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