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Consumer Surplus
Consumer Surplus is the difference between the highest price a consumer is willing to pay for a good or service and the actual price they pay.
Tax
A mandatory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures.
Reduction
The act of making something smaller or less in amount, degree, or size.
Sellers
Individuals or entities that offer goods or services for sale to consumers or other businesses, participating in economic transactions.
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