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(Solved): Question 3. According to Following graph: a. Which area shows the consumer surplus? b. Which area s ...




Question 3. According to Following graph:
a. Which area shows the consumer surplus?
b. Which area shows the Producer surplus?
Question 3. According to Following graph: a. Which area shows the consumer surplus? b. Which area shows the Producer surplus? c. Which area shows the Total surplus? d. Which point shows the willingness to pay? e. Which point shows the cost of production?


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Ans Step-1 3) a) consumer surplus; it the total area below DD curve and above equilibriu
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