Examlex
Tomatoes that regularly sell for $1 per pound are on sale for 30% off the regular price.
a) What is the discount?
b) What is the sale price?
Autarky Price
The autarky price is the price of a good in a country that is completely self-sufficient and does not engage in international trade for that good.
Total Surplus
The sum of consumer surplus and producer surplus in a market, a measure of the overall economic benefit to society.
Autarky
An economic system or condition of self-sufficiency where a country or entity does not engage in international trade, but relies on its own resources.
International Trade
The exchange of goods and services across international borders, driven by comparative advantage, which allows for increased efficiency and welfare.
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