Examlex
As a result of delocalization of the pi-electrons, all the carbon-carbon bonds in benzene are identical.
Consumer Surplus
The difference between the maximum price consumers are willing to pay and the actual price they pay.
Deadweight Loss
A loss of economic efficiency that occurs when the equilibrium for a good or service is not achieved or is not achievable due to market distortions like taxes or subsidies.
Producer Surplus
The difference between the amount producers are willing to sell a good for and the actual amount they receive.
Equilibrium
A state in which market supply and demand balance each other, resulting in stable prices.
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