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Producer Surplus
The difference between what producers are willing to accept for a good or service versus what they actually receive.
Consumer Surplus
The gap between the amount consumers are prepared to spend on a product or service and the actual price they pay for it.
Consumer Surplus
The difference between what consumers are willing to pay for a good or service and what they actually pay.
Consumer Surplus
The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually pay.
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