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Use Determinants to Identify Inconsistent Systems and Systems with Dependent Equations
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Consumer Surplus
The discrepancy between what consumers are prepared and capable of paying for a product or service compared to what they end up spending.
Willingness to Pay
The maximum amount a buyer is prepared to spend on a good or service, reflecting the value they derive from it.
Consumer Surplus
The difference between the total amount consumers are willing to pay for a good or service and the total amount they actually pay.
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