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When colonists first took up arms against British military forces in America in 1775,their professed goal was to
Producer Surplus
The difference between what producers are willing to accept for a good or service and the actual price they receive.
Equilibrium Price
The price at which the quantity of a product offered is equal to the quantity of the product demanded.
Willing To Pay
The maximum amount a consumer is ready to spend on a good or service, reflecting the value they place on it.
Minimum Prices
A price floor set by the government, ensuring that goods and services cannot be sold below this level, typically to protect producers.