Examlex
Scientists have studied the value of positive interactions in ecosystems by measuring the "relative neighbor effect" (RNE) , or the effect that neighboring species have on the growth of a target species. Given the usual purposes of positive interactions, in which ecosystem would the neighboring plant species be most likely to help a target species?
Equilibrium Quantity
The quantity of goods or services traded in a market at the equilibrium price, where the quantity supplied equals the quantity demanded.
External Cost
A cost borne by someone who does not participate in the transaction or decision that led to the cost, often associated with negative externalities.
Total Surplus
The sum of consumer and producer surplus in a market, indicating the overall economic benefit to society from market transactions.
Socially Efficient
An economic condition where the allocation of resources maximizes social welfare, often where marginal cost meets marginal benefit.
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