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Given a supply and demand curve, when there is a change in the supply curve, eg the supply curve shits to the left, do we
Given a supply and demand curve, when there is a change in the supply curve, eg the supply curve shits to the left, do we calculate the producer surplus to the original supply curve or the new supply curve? how about consumer surplus? what if the demand curve shifts? what happens to those surplus , please explain this step by step, thanks !
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