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8 January, 20:46

Suppose there is an increase in supply that reduces market price. Consumer surplus increases because (1) consumer surplus received by existing buyers increases and (2) new buyers enter the market. a. TRUE b. FALSE

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  1. 8 January, 21:05
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    True

    Explanation:

    If there is an increase in supply that reduces market price. Consumer surplus increases because both of the following reasons

    (1) consumer surplus received by existing buyers increases and

    (2) new buyers enter the market.

    a. TRUE
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Home » Business » Suppose there is an increase in supply that reduces market price. Consumer surplus increases because (1) consumer surplus received by existing buyers increases and (2) new buyers enter the market. a. TRUE b. FALSE
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