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What term would an economist use to describe what happens when a shopper gets a “good deal” on aproduct?
Economists can use a term called consumer surplus when a consumer gets a 'good deal on a product. This is because, consumer surplus occurs when the price consumers actually pay is lower than the price they are willing to pay.
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Chapter 3
Demand and Supply
Introduction
How Markets Work
Markets and Welfare
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Ridge. This question is sucking us. What kind of terms would ah and economies thio Pake when the shop heard gas? A rodeo? I'm a product. So what does a good you mean now, even though you're good in a good you means that's ah OK, so the origin of presses is 100 bucks, But you got some good. You without this mean okay, you pay half the price. So you got the same products with smaller press, so that is a good deal. So the good Theo in terms off in the economy worries is a consumer surplus. Why so back to the definition off consumer surplus is the amount of individuals would have to be would have bean winning to pay meanie Milosz. The amount is the actual pate, so they're somewhat deficits between the prices they are willing to pay and suppress their actual paying. So as so, it's kind off and be this. But if we put our eye on the picture and on the problem can see on these picture. So the equal labour impressed which year, which is a markets press. So 100 bucks 100 80 bucks And for this consumer subsidy. Clea in this consumers kind off the press A He or she were willing to pay it at 120 bucks, so you can see that's a hate. He or she can talk with you because of the yuca leap and prices lowers and the press he or she will be willing to pay. So I got a good deal because hit ERM in this way quote unquote, I afford hit box, right? So this is a hoodoo does economist toe who would describe a good deal will happen in the market?
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