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1-Which of the following best defines consumer surplus?

The producer surplus plus the social surplus

The social surplus minus producer surplus

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The amount a seller is paid for a good minus the seller’s actual cost

The difference between an item’s production cost and the amount paid by consumers

2- Which of the following best defines consumer surplus?

The producer surplus plus the social surplus

The social surplus minus producer surplus

The amount a seller is paid for a good minus the seller’s actual cost

The difference between an item’s production cost and the amount paid by consumers

3-An increase in the quantity supplied can be the result from

an increase in price.

an increase in supply.

a change in the number of suppliers

decreased demand.

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