Demand for handbags remains constant

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Reference no: EM131196838

1. Assume that Crystal's demand for handbags remains constant, but the price of handbags increases. Crystal's consumer surplus_________.

a. decreases

b. increases

c. remains constant

2. Consumer surplus can be defined as the ____________.

a. value a consumer received from a good minus the price paid for that good

b. actual amount paid for a good minus the benefit of using that good

c. marginal utility of a good divided by its price.

Reference no: EM131196838

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