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1-Which of the following best defines consumer surplus?
1-Which of the following best defines consumer surplus?
The producer surplus plus the social surplus
The social surplus minus producer surplus
The amount a seller is paid for a good minus the seller's actual cost
The difference between an item's production cost and the amount paid by consumers
2- Which of the following best defines consumer surplus?
The producer surplus plus the social surplus
The social surplus minus producer surplus
The amount a seller is paid for a good minus the seller's actual cost
The difference between an item's production cost and the amount paid by consumers
3-An increase in the quantity supplied can be the result from
an increase in price.
an increase in supply.
a change in the number of suppliers
decreased demand.
