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1.In the absence of a price floor, the maximum price that a few of the consumers are willing to pay up to $100 per barrel
1.In the absence of a price floor, the maximum price that a few of the consumers are willing to pay up to $100 per barrel of gosum berries. The market equilibrium (E) price is $50 per barrel. How much consumer surplus is created when there is no price floor? Show your calculations. (4 points)
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