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Consumer Surplus
The separation between what consumers envisage paying for a good or service and the amount they actually disburse.
Producer Surplus
The gap between the price that sellers are ready to take for a product or service and the actual price they get from the market.
Deadweight Loss
An economic inefficiency that arises when the balance for a product or service is either not attained or cannot be attained.
Consumer Surplus
The differential between the overall amount consumers are willing and financially prepared to spend on a good or service, and what they end up spending.
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