Examlex
Which of the following is found in both cellular respiration and in the light reactions of photosynthesis?
Producer Surplus
The distinction in financial terms between what producers expect to receive for a product or service and the actual revenue attained.
Producer Surplus
The difference between the amount producers are willing to sell a good for and the actual market price they receive, reflecting the benefit to producers from selling at a higher price.
Tax
A fundamental fiscal obligation or alternative sort of levy placed upon a taxpayer by a government power, promoting government funding and assorted investments in public infrastructure.
Consumer Surplus
The difference between the maximum price a consumer is willing to pay for a good or service and the actual price they do pay, reflecting the economic benefit obtained by consumers.
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