Examlex
No duty to warn exists for dangers arising from either unforeseeable misuses of the product or from obvious dangers.
Consumer Surplus
The difference between the total amount that consumers are willing to pay and the actual amount they pay for a good or service.
Equilibrium Quantity
The quantity of goods or services that is supplied and demanded at the equilibrium price in a market.
Car Market
The industry related to the manufacturing, selling, and buying of automobiles.
Allocative Efficiency
A state of the economy in which production represents consumer preferences; every good or service is distributed to yield the highest aggregate utility.
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