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The graph at the right shows the market for tiger shrimp. The market is initially in equilibrium a ...
The graph at the right shows the market for tiger shrimp. The market is initially in equilibrium at a price of $15 and a quantity of 80 . Now suppose producers decide to cut output to 40 in order to raise the price to $18. What is the value of consumer surplus at a price of $18 ? A. $240 B. $60 C. $180 D. $120