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A new technology is developed that allows the production of a good to be done at a much lower cost. As a result, the market
A new technology is developed that allows the production of a good to be done at a much lower cost. As a result, the market price of the good falls. Which of the following will happen to consumer surplus? Question 2Answer a. Consumer surplus will increase. b. Consumer surplus will decrease. c. Consumer surplus will stay the same. d. Consumer surplus will be zero
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