Examlex
A favorable direct-labor quantity variance may lead to an unfavorable direct-labor price variance.
Costs to Society
The total burden that societal behaviors, decisions, or policies place on the welfare of the community, including both direct costs and indirect consequences.
Total Surplus
The sum of consumer surplus and producer surplus; a measure of the overall benefit to society from the production and consumption of goods or services.
Market Price
The present cost at which a service or asset is available for purchase or sale in a specific market.
Total Surplus
The sum of consumer and producer surpluses, representing the total net benefit to society from the production and consumption of goods and services.
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