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consumer's surplus

noun
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variants: or less commonly consumer's rent

Definition of consumer's surplus

: the amount above the actual price of a commodity a purchaser would pay in order not to go without the commodity

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“Consumer's surplus.” The Merriam-Webster.com Dictionary, Merriam-Webster Inc., https://www.merriam-webster.com/dictionary/consumer%27s%20surplus. Accessed 29 January 2020.

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