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Adaptation occurs because
Consumer Surplus
The gap between what consumers are ready and able to expend for a good or service and what they actually spend.
Price Ceiling
A legally imposed limit on the price that can be charged for a good or service, typically set below the equilibrium price.
Excess Demand
A situation where the quantity demanded of a good or service exceeds the quantity supplied at a particular price, often leading to upward pressure on prices.
Consumer Surplus
The disparity between the cumulative amount consumers are willing to pay for a product or service and the amount they actually pay.
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