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The difference between the amount consumers would be willing to pay and the amount they actually pay for a good is called A. income elasticity
The difference between the amount consumers would be willing to pay and the amount they actually pay for a good is called A. income elasticity of demand. B. price elasticity of demand. C. consumer surplus. D. the substitution effect
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Microeconomics An Intuitive Approach with Calculus
Authors: Thomas Nechyba
1st edition
538453257, 978-0538453257
