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In 2004, Archaeologists Unearthed a Female Skeleton on the Indonesian

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In 2004, archaeologists unearthed a female skeleton on the Indonesian island of Flores that led to its classification as a member of the genus Homo instead of Australopithecus because of


Definitions:

Consumer's Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually do pay.

Net Increase

The overall rise in a particular number after all deductions or decreases have been considered.

Units of X

A term commonly used in economics and other disciplines to denote a quantity or amount of a particular good or service referred to as "X."

Utility Function

A mathematical representation of how a consumer ranks different bundles of goods such that the higher the function's value, the higher the level of satisfaction.

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