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Solve the equation. Round to the nearest thousandth.
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Opportunity Cost
The financial impact of rejecting the nearest superior alternative when deciding.
Box
A container, often square or rectangular, used for storage or shipping.
Consumer Surplus
Consumer surplus is the difference between the total amount consumers are willing to pay for a good or service and the total amount they actually pay.
Producer Surplus
The difference between what producers are willing to accept for a product because of its cost of production and what they actually receive (the market price).
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