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In National Provincial Bank v. Ainsworth ....
Producer Surplus
The divergence between what producers expect to get for a good or service and the actual compensation they receive.
Deadweight Loss
The loss of economic efficiency when the equilibrium outcome is not achievable or not achieved in a market.
Perfectly Inelastic
A market condition where the quantity demanded or supplied does not change in response to price changes.
Deadweight Loss
An economic inefficiency that occurs when the total welfare in a market is not maximized, resulting from distortions such as taxes, subsidies, or monopolies.
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