Examlex
Fiber optic cable is in the form of a cylindrical core of fiber with index of refraction 1.67 surrounded by a layer of cladding of index 1.45. What is the maximum angle for light rays inside the fiber core with respect to the cable's axis for which the light will be fully transmitted thanks to total internal reflection?
Total Surplus
The sum of consumer and producer surplus, representing the total net benefit to society from the production and consumption of a good or service.
Gains From Trade
Gains achieved by dividing tasks and trading; in this way people can get more of what they want through trade than they could if they tried to be self-sufficient.
Total Surplus
The sum of consumer surplus and producer surplus; a measure of the total benefit to society from a market transaction.
Consumer Surplus
The differential between consumers’ readiness to pay a certain amount for a service or good and the payment completed.
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