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What are the various reasons used to explain the role of gender in pay inequity?
Consumer Surplus
is the difference between the total amount that consumers are willing to pay for a good or service and the total amount that they actually pay.
Market Price
The immediate rate at which an asset or service can be traded in a specific trading place.
Producer Surplus
The gap between what sellers are prepared to accept for a product or service and the real amount they end up getting.
Excess Quantity
The situation where the supply of a product exceeds the demand for it at a specific price point, leading to a surplus.
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