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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.
The Price ceiling is the law that sets a maximum price below the equilibrium market price, but a price floor is the law that sets a maximum price above the market equilibrium price
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