Examlex
What is the default name of a parameter file?
Willing To Pay
Willing to pay is the maximum amount that a consumer is prepared to spend on a good or service.
Consumer Surplus
The difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount they actually pay.
Producer Surplus
The difference between what producers are willing to accept for a product versus what they actually receive in the market.
Marginal Benefit
The increased benefit or value received from the consumption or creation of one more unit of a good or service.
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