35 points, please help
Use the graph below to depict the following. Assume the initial market price is $4.
a. Identify the area of the initial consumer surplus, CS1, if the market price is $4. Next, assume that supply decreases and the market
price rises to $5. Draw the new supply curve and identify the new area of consumer surplus, CS2, on the graph.
Answers: 2
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Answers: 3
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Answers: 1
35 points, please help
Use the graph below to depict the following. Assume the initial market pric...
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