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nakungth nakungth
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6 years ago
Suppose a competitive market is in equilibrium at price P' and quantity Q'.  If the demand curve becomes less elastic, but the same price-quantity equilibrium is maintained, what happens to consumer and producer surplus?
A) Both PS and CS increase
B) CS increases and PS decreases
C) CS increases and PS remains the same
D) Both CS and PS decrease
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Microeconomics

Microeconomics


Edition: 8th
Author:
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oracledarrenoracledarren
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nakungth Author
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#2
5 years ago
Thank you!
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