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A study of the benefits of television asked consumers two questions: (1) How much would you pay to watch TV (versus no TV watching), and

A study of the benefits of television asked consumers two questions: (1) How much would you pay to watch TV (versus no TV watching), and (2) How much would you have to be paid to voluntarily stop watching TV. Show how these are found with two separate graphs of indifference curves and budget constraints. Are these values likely to be equal? Discuss briefly.

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