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What is Producer Surplus?
Theorized by Karl Marx, Surplus Produce refers to that condition where the produce is much more than that is required. In economics, it is also referred to that situation when there is an excess of government revenues over expenditures during a particular fiscal year.
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Is It Important?
Yes; of course it is. And, any student with a major in this subject is in great demand not only in private companies but in the public or government sector as well.
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