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27-12-2022
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Scenario 12-1 Ken places a $20 value on a cigar, and Mark places a $17 value on it. The equilibrium price for this brand of cigar is $15. Refer to Scenario 12-1. How much total consumer surplus do Ken and Mark get when each purchases one cigar? a. $2 b. $1 c. $5 d. $7

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