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Social Interests
The collective welfare or well-being of a community or society as a whole.
Pure Competition
Another term for perfect competition, where a market structure features many buyers and sellers, no barriers to entry, and homogeneous products.
Producer Surplus
The difference between the amount producers are willing to sell a good for and the actual price they receive, representing the producers' benefit.
Minimum Price
The lowest price at which a good or service is permitted to be sold, often set by regulation.
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