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What is total surplus in net gain?
Total surplus in net gain:
The total surplus generated into a market is the total net gain to consumers and producers through trading into the market. This is the sum of the producer and the consumer surplus.
The purposes of consumer surplus and producer surplus can assists us understand reason markets are an effectual way to organize economic activity.
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The supply equation for widgets is P = 100 + 10QS. The elasticity of supply between quantity supplied of 9 and 11?
briefly explain any five uses of national income statistics
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what happens when there is changes in the quantity supply?
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