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Determine whether each statement is true or false. You have one submission for each statement. (a) If p denotes the equilibrium price, then the consumer
Determine whether each statement is true or false. You have one submission for each statement. (a) If p denotes the equilibrium price, then the consumer surplus at any price higher than p must be less than or equal to the consumer surplus at price p. OTrue OFalse (b) If p denotes the equilibrium price, then the producer surplus at any price lower than p must be less than or equal to the producer surplus at price p. OTrue OFalse
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