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Change to approximate equivalents.
-123.2 lb = ____________________ kg
Consumer Surplus
The variance between the total price consumers are willing to pay for a good or service and the actual price they pay.
Benefit
An advantage, gain, or positive outcome derived from a specific action, policy, or product.
Buyers
Entities or individuals who purchase goods or services for personal use, consumption, or investment.
Producer Surplus
The difference between the amount sellers are willing to accept for a good or service and the actual amount they receive in the market.
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