Examlex
What reaction has to occur each time light reaches the eye before the product of this reaction can be recombined with opsin to reform rhodopsin?
Price Ceiling
A government-imposed limit on how high the price of a product can be, intended to protect consumers from high prices.
Monopolist
A single seller in a market who controls the supply of a product or service, and thus, has significant power to set prices.
Deadweight Loss
The drop in economic productivity happening when the optimal free market balance for a good or service isn't met.
Price Ceiling
A price ceiling is a government-imposed limit on how high the price of a good or service can be charged in the market, usually set below the equilibrium price to ensure affordability of essential goods.
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