Examlex
Which of the following is most abundant in your brain?
Total Surplus
The total net gains for society represented by the combined amount of consumer surplus and producer surplus in a market.
Producer Surplus
This is an economic measure of the difference between the amount producers are willing to supply a good for and the amount they actually receive.
Consumer Surplus
The difference between the maximum price consumers are willing to pay for a product and the actual market price they pay.
Producer Surplus
The difference between the amount producers are willing to accept for a good or service and the actual amount they receive due to market price.
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