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Consumer Surplus
The difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount that they actually do pay.
Market Entry
The process by which a firm enters into a new market to compete and offer goods or services.
Price Falls
A decrease in the monetary value or market price of goods, services, or assets.
Producer Surplus
the difference between what producers are willing to accept for a good or service versus what they actually receive, due to higher market prices.
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