Examlex
A taillight bulb is glowing dimly. A voltmeter placed across the bulb reads 4 volts. Technician A says there may be excessive resistance in the ground circuit. Technician B says there may be excessive resistance in the power feed circuit. Who is correct?
Substitute
A good or service that can be used in place of another, allowing consumers to switch between them based on price, preference, or availability.
Equilibrium
A situation where the supply and demand in the market are equal, leading to stable prices.
Margarine
A spread used as a substitute for butter, made from vegetable oils or animal fats.
Producer Surplus
The difference between what producers are willing to sell a good for and the price they actually receive.
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