The gap between the demand curve and the market price is called consumer surplus.
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Q191: (Figure: Understanding Price Ceilings and Floors) In
Q192: If a price ceiling is set above
Q193: When markets are efficient
A) the sum of
Q194: (Figure: Determining Surplus 6) Using the graph,
Q195: A lack of competition results in deadweight
Q197: The gap between the demand curve and
Q198: (Figure: Determining Surplus and Loss) In the
Q199: When demand for a product falls, ceteris
Q200: Total surplus is the sum of consumer
Q201: Suppose that a customer's willingness-to-pay for a
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