Examlex
In the equation C = a + bY, Y is the dependent variable and a is the intercept.
Linear Supply
A supply relationship showing a direct, constant increase in quantity supplied as price increases.
Free Market Equilibrium
A state in an economy where supply meets demand naturally without intervention, and prices are determined by free market forces.
Price Controls
Government-imposed limits on the prices that can be charged for goods and services in a market.
Consumers Gain
The benefit or surplus that consumers receive from purchasing goods and services at a price lower than their maximum willingness to pay.
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