Refer to Table 4-14. The equations above describe the demand and supply for Pauline's Pickled Pomegranates. The equilibrium price and quantity for Pauline's Pickled Pomegranates are $30 and 15 thousand units. What is the value of consumer surplus?
A) $50 thousand B) $112.5 thousand C) $225 thousand D) $337.5 thousand
C
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If the demand curve for a product shifts to the right and the supply curve for the product shifts to the left, equilibrium price and equilibrium quantity will both increase
Indicate whether the statement is true or false
Which of the following statements is true?
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