-David is creating new database. Discuss a pro and con of creating it from a predeveloped Access database template.
Definitions:
Producer Surplus
The disparity between the price at which sellers are prepared to offer a product and the actual selling price they get.
Consumer Surplus
The difference between the highest amount a consumer is willing to pay and the actual price paid.
Supply Shift
A change in the quantity of a good that suppliers are willing and able to sell at each price, represented by a shift of the supply curve to the left or right.
Producer Surplus
The difference between the amount a producer is willing to accept for a good and the actual amount received from its sale.
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