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Which of the following is the definition of consumer surplus? A. the additional cost to a firm of producing one more unit of a good
Which of the following is the definition of consumer surplus? A. the additional cost to a firm of producing one more unit of a good or service O B. the difference between the highest price a consumer is willing to pay and the price the consumer actually pays C. the additional benefit to a consumer from consuming one more unit of a good or service O D. the difference between the lowest price a firm would have been willing to accept and the price it actually receives Refer to the graph. The graph shows the market demand for satellite television service. If the market price is $81, which consumers receive consumer surplus in this market? A. those willing to pay more than $81 O B. those willing to pay less than $81 O C. those willing to pay exactly $81 O D. All of the above
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