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Consumer Surplus
The difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually do pay.
Producer Surplus
The discrepancy between the price at which producers are inclined to sell a product and the actual price they get, frequently viewed as an indicator of the well-being of producers.
Tax
A mandatory monetary fee or a different kind of tax placed on an individual or entity by a government agency.
Producer Surplus
The gap between the minimum amount that sellers are prepared to accept for a product or service and the higher price they actually get.
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