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Figure 3-17 Refer to Figure 3-17. Area C Represents

Question 322

Multiple Choice

Figure 3-17 Figure 3-17 Refer to Figure 3-17. Area C represents A) the decrease in consumer surplus that results from a downward-sloping demand curve. B) consumer surplus to new consumers who enter the market when the price falls from P <sub>2</sub> to P <sub>1</sub>. C) the increase in producer surplus when quantity sold increases from Q <sub>2</sub> to Q <sub>1</sub>. D) the decrease in consumer surplus to each consumer in the market when the price increases from P <sub>1</sub> to P <sub>2</sub>.
Refer to Figure 3-17. Area C represents


A) the decrease in consumer surplus that results from a downward-sloping demand curve.
B) consumer surplus to new consumers who enter the market when the price falls from P 2 to P 1.
C) the increase in producer surplus when quantity sold increases from Q 2 to Q 1.
D) the decrease in consumer surplus to each consumer in the market when the price increases from P 1 to P 2.

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