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Suppose that the quantity demanded of cupcakes is 50 cupcakes when the price of a cupcake is $4. If the price rises to $5 for each cupcake, consumer...

Suppose that the quantity demanded of cupcakes is 50 cupcakes when the price of a cupcake is $4. If the price rises to $5 for each cupcake, consumer surplus will

 

  • rise by more than $50.
  • fall by more than $50.
  • rise by less than $50.
  • fall by less than $50.

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