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Adolf Hitler was able to create a powerful unified state in Germany by blaming minorities for the country's problems and promoting the idea of certain German people as different and superior. This made the idea of persecuting minorities and expanding German dominance over Europe seem like a reasonable course of action. What do we call this feeling of belonging and superiority?
Producer Surplus
Sum over all units produced by a firm of differences between the market price of a good and the marginal cost of production.
High Quality
A characteristic of products or services that meet or exceed the expectations of consumers, often associated with durability, reliability, and excellence.
Marginal Benefit
The additional benefit received from consuming one more unit of a good or service.
Marginal Social Cost
The additional cost to society as a whole from producing one more unit of a good or service, including both private costs and externalities.
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