Examlex
Applications for a coveted internship at the provincial legislature are open only to postsecondary students whose parents have been involved in some kind of public office within the past ten years. What is reinforced by this criterion for application?
Producer Surplus
The difference between the amount producers are willing to sell a good for and the actual amount they receive due to market price.
Good X
An unspecified product or commodity in economics, used in theoretical models and discussions.
Producer Surplus
The difference between the actual price producers receive for a product and the minimum price they would accept.
Supply Curve
A graphical representation of the relationship between the price of a good and the quantity supplied by producers.
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