Examlex
Modeling
Efficiency
The ability to produce maximum output with a given set of inputs or resources, minimizing waste and costs.
Equality
The state of being equal, especially in status, rights, and opportunities.
Output
The complete sum of products or services generated by an individual, device, company, or economic system.
Total Surplus
The aggregate benefit to society, represented by the consumer and producer surplus, from the consumption and production of a good or service.
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