Examlex
In some dairy states, a kind of base 6 is used for shipping milk. Six cartons of milk make 1 box; 6 boxes make 1 crate, 6 crates make 1 flat, and 6 flats make 1 pallet. Thus, if someone said they had filled 4355, that would mean 4 flats, 3 crates, 5 boxes, and 5 cartons. How many cartons of milk would this be in base 10?
Producer Surplus
Producer surplus is the difference between what producers are willing to accept for a good or service and the actual price they receive, reflecting the profit earned above production costs.
Price
The sum of money anticipated, needed, or handed over in exchange for something.
Consumer Surplus I
The gap between what consumers are prepared and able to spend on a product or service and what they end up paying.
Price
The amount of money required to purchase a good or service.
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