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You have just told a girl you recently met about your enrollment in a consumer behaviour class,to which she replies,"I don't agree with marketers.They manipulate us through advertising by telling us we need something that we don't." What counterarguments (if any)could you give her and are there any examples you could use to be more convincing?
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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