Examlex
In the Ouchterlony test, where will a precipitin line form when bovine serum albumin is mixed with the antibodies for horse albumin, bovine albumin, and swine albumin?
Marginal Utility
The supplementary utility or enjoyment obtained by consuming an additional unit of a good or service.
Consumer Surplus
Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.
Deadweight Loss
Reductions in combined consumer and producer surplus caused by an underallocation or overallocation of resources to the production of a good or service. Also called efficiency loss.
Producer Surplus
is the difference between what producers are willing to accept for a good or service versus what they actually receive, due to market prices.
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