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QUESTION
16. Which of the following will cause an increase in producer surplus?
16. Which of the following will cause an increase in producer surplus? A. buyers expect the price of the good to be lower next month b. the price of a substitute increases c. income increases and buyers consider the good to be inferior d. the imposition of a binding price ceiling in the market 17. Which of the following causes a shortage of a good? A. a binding price floor b. a tax on the good c. a binding price ceiling d. More than one of the above is correct.
