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29. Consumer surplus: a) is the difference between the maximum prices consumers are willing to pay for a product and the lower equilibrium price. b) the difference between the maximum prices consumers are willing to pay for a product and the minimum prices producers are willing to accept. c) the difference between the minimum prices producers are willing to accept for a product and the higher equilibrium price. d) rises as equilibrium price rises.
29. Consumer surplus: a) is the difference between the maximum prices consumers are willing to pay for a product and the lower equilibrium price. b) the difference between the maximum prices consumers are willing to pay for a product and the minimum prices producers are willing to accept. c) the difference between the minimum prices producers are willing to accept for a product and the higher equilibrium price. d) rises as equilibrium price rises.
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