Examlex
The U.S. Census Bureau plays an active role in sponsoring, developing, and approving data sets in health care.
Producer Surpluses
The difference between the actual amount received by sellers and the minimum amount they would be willing to accept for their goods or services.
Allocative Efficiency
A state of the economy in which resources are apportioned in a way that maximizes the overall benefit to society.
Productive Efficiency
A situation where an economy or a production entity cannot produce more of one good without sacrificing production of another good and by using the least costly production techniques.
Long-Run Adjustments
The process by which firms adjust their production levels, input mixes, and operations to reflect changes in the market or economic conditions over a longer period.
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