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Economics
MEDIUM
ENGLISH
Economics
Suppose that the price of a new bicycle is Rs300 Natalie values a new bicycle at Rs 400 it costs Rs200 for the seller to produce the new bicycle. What is the value of total surplus if Natalie buys a new bike ?
A
Rs500
Option A
Rs300
Correct answer
C
Rs200
Option C
D
Rs400
Option D
Correct answer: B
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