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Strategies That Dominant Groups Use to Maintain Their Power and to Make

question 40

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Strategies that dominant groups use to maintain their power and to make their views seem like "common sense" comprise


Definitions:

Quantity Demanded

The amount of a good or service that consumers are willing and able to purchase at a given price.

Price Ceiling

A legal limit on how high the price of a product can be charged in the market.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the actual amount they do pay.

Producer Surplus

The difference between the amount producers are willing to sell a good for and the actual amount they receive by selling it at the market price.

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