Examlex
The development of the original personal computer (PC) was a(n) ____ innovation at the time, whereas adding a different kind of whitening agent to a soap detergent in an example of a(n) ____ innovation.
Consumer Surplus
The difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount that they actually pay.
Supply Curve
A graph showing the relationship between the price of a good and the quantity of that good that sellers are willing to supply.
Demand Curve
A graphical representation showing the relationship between the price of a good and the quantity demanded.
Actual Price
The price at which a good or service is sold, not considering discounts or adjustments.
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