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Tangible Assets, Such as a Strong Balance Sheet, and Intangible

question 3

Multiple Choice

Tangible assets, such as a strong balance sheet, and intangible assets like a company's reputation or knowledge are known as

Definitions:

Deadweight Loss

A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved or is not achievable.

Consumer Surplus

The difference between the total amount that consumers are willing to pay for a good or service and the total amount they actually do pay.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, indicating the economic benefit to consumers.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers.