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Although the period between Diocletian and Constantine was fraught with issues of succession, both men can be considered successful leaders in the chaos of the late empires.What policies did they enact to promote peace and prosperity? Were any of these policies counterproductive?
Consumer Surplus
The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually do pay.
Market Price
The current price at which an asset or service can be bought or sold.
Monopolistic Competitor
A firm operating in a monopolistic competition market, selling a product that is differentiated from those of competitors.
Economic Profit
The difference between total revenue and total costs, including both explicit and implicit costs, indicating the financial gain that exceeds opportunity costs.
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