Examlex
A gene is found that controls the age at which a man grows bald,if at all.That gene seldom affects women,even if they have the gene.What kind of gene is this MOST likely to be?
Economic Efficiency
A situation where resources are utilized in the most optimal manner, producing the desired output with minimum waste or expense.
Producer Surplus
The difference between what producers are willing to accept for a good versus what they actually receive.
Consumer Surplus
Consumer surplus is the difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.
Property Rights
The legal rights to own, use, and dispose of assets including real estate, personal possessions, and intellectual property.
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