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ECONOMICS 2302 Topic 5 LearnSmart.
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1. Given the information in the table below, how much consumer surplus is generated for Rob when market price is $100? Marginal Benefit ($) Rob $150 Dennis 125 Marty 100 Becky 75 Bill 50 $50 2. The difference between the maximum price consumers are willing and able to pay for a good or a service and the price they actually pay is the ________ surplus. Consumer 3. A tax on suppliers shifts the: Supply the curve up vertically 4. When there is productive efficiency: Output is produced at the lowest possible total cost per unit of production Output is produced using the fewest resources possible to produce a good or a service 5. First, mentally ide
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San Jacinto College
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