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Producer Surplus
The difference between the amount a producer is willing to accept for a good or service and the actual amount received from selling it at the market price.
Cupcakes
Small, individually-sized cakes that are typically frosted and decorated, often used to celebrate events or milestones.
Total Surplus
Total surplus is the sum of consumer surplus and producer surplus in a market, representing the total benefits to both buyers and sellers from trade.
Producer Surplus
The difference between the amount that producers are willing to sell a good for and the actual amount received by them.
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