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What happens when someone dies intestate?
Consumer Surplus
The split between the comprehensive sum consumers are prepared to offer for a good or service and the sum they truly pay.
Demand Curve
A graphical representation that illustrates the relationship between the price of a good and the quantity of it that consumers are willing to buy.
Equilibrium Price
The price at which the quantity of goods suppliers are willing to sell equals the quantity consumers are willing to buy, leading to a balance of demand and supply.
Consumer Surplus
The variance between a consumer's maximum price readiness for a product or service and the real payment made.
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