Examlex
Which two actions must be completed before starting the process of sending IoT data to the cloud via edge routers? (Choose two.)
Consumer Surplus
The gap between the price consumers are prepared to pay for a product or service and the actual amount they spend, indicating the advantage to consumers.
Producer Surplus
The difference between what producers are willing to sell a good for and the actual price they receive, measuring the benefit to producers from participating in the market.
Marginal Benefit
The extra value or enjoyment gained by using one more unit of a certain good or service.
Marginal Cost
This term describes the expense associated with manufacturing an additional unit of a particular item, crucial for understanding economies of scale and pricing.
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