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Questions and Answers
What happened to consumers' marginal benefits from a laptop in the market?
What happened to consumers' marginal benefits from a laptop in the market?
How did the equilibrium price change in the market for laptops?
How did the equilibrium price change in the market for laptops?
What happened to the equilibrium quantity of laptops in the market?
What happened to the equilibrium quantity of laptops in the market?
How did the consumer surplus change in the new equilibrium?
How did the consumer surplus change in the new equilibrium?
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What impact did the changes have on total economic surplus in the market?
What impact did the changes have on total economic surplus in the market?
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In the new equilibrium, the consumer surplus is $ blank1
In the new equilibrium, the consumer surplus is $ blank1
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In the new equilibrium, the producer surplus is $ blank2
In the new equilibrium, the producer surplus is $ blank2
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In the new equilibrium, the total economic surplus is $ blank3
In the new equilibrium, the total economic surplus is $ blank3
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Consumers’ marginal benefits from a laptop decreased by $ blank4 at each given quantity
Consumers’ marginal benefits from a laptop decreased by $ blank4 at each given quantity
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The equilibrium price fell to $ blank5 in the new equilibrium
The equilibrium price fell to $ blank5 in the new equilibrium
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