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The willingness to pay could be good for sellers if they sell in a bid. However, most of the sellers have a set selling price. Hence, if the price of the good is less than what the buyer is willing to pay, it can create a consumer surplus. If it is lower than the set price, it will create a producer surplus. How do you think the taxes and other government related charges play into the buying and selling prices?

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M92025076
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