Examlex
This early school of psychology used introspection to study subjective mental experiences:
Total Surplus
The sum of consumer and producer surplus, representing the total net benefit to society from the production and consumption of goods or services.
Consumer Surplus
The discrepancy between the total price consumers are ready to pay for a good or service and what they actually pay for it.
Producer Surplus
The disparity between the price at which sellers are prepared to offer a product and the actual selling price they get.
Consumer Surplus
The difference between the highest amount a consumer is willing to pay and the actual price paid.
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