Macroeconomics 2017 (Hubbard) Chapter 4 Economic

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Topic: Consumer Surplus *: Recurring Learning Outcome: Micro-7: Discuss the effects of consumer and producer surpluses in a market. AACSB: Analytical thinking 11) Which of the following statements best describes the concept of consumer surplus? A) "I paid $89 for a microwave oven last week. This week the same store is selling the same microwave

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