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What is the principle of rational choice?
Total Surplus
The sum of consumer and producer surplus, representing the total benefit to society from the production and consumption of goods or services.
Equilibrium
A state in which market supply and demand balance each other, and as a result, prices become stable.
Creative Entrepreneur
An individual who innovates and creates new products, services, or business models, often in the arts, media, or technology sectors.
Profitably Exploit
Involves leveraging resources or opportunities in a way that maximizes profit.
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