Examlex
When students are required to learn new material for a class, they typically want the material to be clearly organized and easy to study. Additionally, students often prefer to cram material in long study sessions and to feel that they are learning the material quickly. What does research indicate about these studying habits? Based on this research, suggest two ways students can improve their performance on tests.
Corrective Tax
A tax designed to encourage private decision makers to take into account the social costs that arise from a negative externality.
Allocative Efficiency
A state where resources are allocated in a way that maximizes the net benefit to society, with products being produced at a quantity where the price equals marginal cost.
Consumer Surplus
The contrast between the total payment consumers are willing and financially able to make for a good or service and the amount they truly pay.
Producer Surplus
The discrepancy between the price producers agree to sell a good for and the price they actually end up receiving.
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