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Using the demand curve below, by how much does consumer surplus increase when price falls from $25 to $20 - for the specific reason that
Using the demand curve below, by how much does consumer surplus increase when price falls from $25 to $20 - for the specific reason that new customers enter the market (i.e. not because existing consumers receive greater surplus)? P $45 40 35 30 0 5 10 15 20 QUsing the supply curve below, by how much does producer surplus increase when price rises from $20 to $25 - for the specific reason that producers who were already in the market now receive extra revenue on each good sold (i.e. not due to an increase in the quantity of goods sold)? P 45 40 35 30 25 20 15 10 O 0 5 10 15 20
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