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Economics Assignment | Homework For You

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December 9th, 2019

It costs suppliers $1 to produce each additional widget, and widgets sell for $2. Some consumers are not willing to pay $2 for a widget but are nevertheless willing to pay more than $1. Which of the following statements is TRUE?

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Homework For You

Select one:

a. Suppliers must be reaping big profits.

b. The market is at equilibrium.

c. There are unexploited gains from trade.

d. Consumers will bid up prices. Get Economics homework help today

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