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Consumer Surplus and WIllingness to Pay
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Consumer Surplus and WIllingness to Pay
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5. Consumer and Producer Surplus; Price Ceilings and Price Floors / WIllingness to Pay and Consumer Surplus / Problem 8
Problem 8
What happens to consumer surplus when the price of a good decreases?
A
Consumer surplus decreases as the market becomes less efficient.
B
Consumer surplus increases as consumers get better deals.
C
Consumer surplus decreases as fewer consumers are willing to buy.
D
Consumer surplus remains unchanged as the demand curve is unaffected.
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