Examlex
Explain how the rise of Internet technology affected the right to assemble and petition.
Equilibrium Price
The market price at which the supply of an item equals the quantity demanded, leading to an economic state of balance.
Producer Surplus
The contrast between the asking price of goods by producers and the actual selling price.
Total Surplus
The sum of consumer surplus and producer surplus in a market, representing the total benefits to society from trading a good or service.
Consumer Surplus
The difference between what consumers are willing to pay for a good or service versus what they actually pay, measuring the benefit to consumers from market transactions.
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