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List and explain three ways industrialization changed the English working-class people.
Producer Surplus
The difference between what producers are willing to accept for a good versus what they actually receive in the market.
Price
The monetary figure anticipated, obligated, or dispensed in transaction for a service or good.
Quantity
The amount or number of a material or immaterial good or service.
Deadweight Loss
A loss of economic efficiency that occurs when the equilibrium outcome is not achievable or not achieved in a market.
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