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Unformatted text preview: her P* and Q* rise or they fall, or nothing changes. The correct answer is (I).
The price received by sellers will be $72. The correct answer is (H).
The price paid by buyers will be $87. The correct answer is (I).
The proportion that falls on buyers will be 0.33. The correct answer is (D).
The consumer will purchase 900 units of X. The correct answer is (F).
The consumer surplus will be $18,000. The correct answer is (F).
The consumer will decide to take the offer if the fee is less than $65,333.33....
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This note was uploaded on 06/11/2011 for the course ECMA 04 taught by Professor Cleverland during the Fall '09 term at University of Toronto- Toronto.
- Fall '09