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yuknam yuknam
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5 years ago Edited: 5 years ago, bio_man

Question 1.

Arthur buys a new cell phone for $150. He receives consumer surplus of $150 from the purchase. What value does Arthur place on his cell phone?

• $0

• $150

• $225

• $300

Question 2.

Figure 4-2




Refer to Figure 4-2. What area represents the increase in producer surplus when the market price rises from P1 to P2?

• B + D

• A + C + E

• C + E

• A + B
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
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GparkerGparker
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