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

Question 328

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 P₂ to P₁. C) the increase in producer surplus when quantity sold increases from Q₂ to Q₁. D) the decrease in consumer surplus to each consumer in the market when the price increases from P₁ to P₂.
-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 P₂ to P₁.
C) the increase in producer surplus when quantity sold increases from Q₂ to Q₁.
D) the decrease in consumer surplus to each consumer in the market when the price increases from P₁ to P₂.

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