Answered: If total surplus rises, there may have…

If total surplus rises, there may have been a(n). in demand or a(n), in supply. decrease; increase decrease; decrease O increase; increase increase; decrease

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter6: Elasticities

Section: Chapter Questions

Problem 7P

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Question

If total surplus rises, there may have been a(n)
in demand or a(n)
in supply.
decrease; increase
decrease; decrease
increase; increase
increase; decrease

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What is surplus by yanis varoufakis
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only typed answer A consumer has inverse demand of p=15−1q for a good and the market price is $4.00. Calculate consumer surplus and the total value of the good for the corresponding quantity consumed. Consumer surplus is $enter your response here. (Enter your response rounded to two decimal places.) The consumer's expenditure for the good is $enter your response here. (Enter your response rounded to two decimal places.)