The price a firm charges for a good or service is typically less than the value placed on that good or service by the customer.This is because the consumer captures some of that value in the form of what economists call _____.

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The price a firm charges for a good or service is typically less than the value placed on that good or service by the customer.This is because the consumer captures some of that value in the form of what economists call a consumer surplus.

The Price a Firm Charges for a Good or Service