How Many 3 Oz

question 47

Short Answer

How many 3 oz. glasses of wine can be obtained from a wine bottle that holds 475 ml?

---

Definitions:

Individual Consumer Surplus

The net gain to an individual buyer from the purchase of a good; equal to the difference between the buyer’s willingness to pay and the price paid.

Selling Haircuts

The commercial activity of providing hair cutting and styling services to customers for a fee.

Efficiency

The degree to which resources are allocated in a way that maximizes productivity and minimizes waste or inefficiency.

Equity

Fairness or justice in the way people are treated or in the distribution of resources, or ownership interest in a company or property.