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Suppose a firm has market power and faces a downward sloping demand curve for its product. If the firm increases price, then: A. consumer surplus

Suppose a firm has market power and faces a downward sloping demand curve for its product. If the firm increases price, then:

A.

consumer surplus decreases
B.

producer surplus must remain the same
C.

consumer and producer surplus must increase
D.

consumer surplus increases

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