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Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950Essentials of Economics 7th Edition by Gregory Mankiw
Edition 7ISBN: 978-1285165950 Exercise 11
The demand curve for cookies is downward sloping. When the price of cookies is $2, the quantity demanded is 100. If the price rises to $3, what happens to consumer surplus?
A) It falls by less than $100.
B) It falls by more than $100.
C) It rises by less than $100.
D) It rises by more than $100.
A) It falls by less than $100.
B) It falls by more than $100.
C) It rises by less than $100.
D) It rises by more than $100.
Explanation
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In market, price of cookies is $2 and qu...
Essentials of Economics 7th Edition by Gregory Mankiw
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