Examlex

Solved

In Terms of the Process of Formation, Which One of the Following

question 87

Multiple Choice

In terms of the process of formation, which one of the following optical phenomena is unlike the other three?


Definitions:

Surplus Amount

The excess quantity of a product that occurs when the supply of the product exceeds the demand for it at a given price.

Consumer Surplus

A measure of the difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount that they actually do pay.

Price

The price one must pay to obtain a service or product.

Surplus Amount

The excess of revenues over expenditures in a budget, or inventory beyond what is currently needed.

Related Questions