Examlex
Solve the absolute value inequality. Write the solution in interval notation.
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Deadweight Loss
The loss of economic efficiency that can occur when the free market equilibrium for a good or a service is not achieved.
Consumer Surplus
The contrast between the total price consumers aim and are capable of paying for a good or service and the price they actually pay.
Tax
Mandatory financial charges imposed by a government on individuals or entities to fund public expenditures.
Producer Surplus
The difference between the amount producers are willing to accept for a good or service and the actual amount they receive, due to higher market prices.
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