Examlex
Total income is always equal to ________ expenditures;but only in equilibrium is it equal to ________ expenditures,producing in equilibrium ________ on income to change.
Product-variety Externality
The impact on consumer welfare or market efficiency due to variety in products available, often seen as a positive externality in markets.
Business-stealing Externality
A negative effect where a new entrant in a market draws customers from existing businesses, potentially harming those businesses without creating new value for the market as a whole.
Negative Externality
A cost that affects a party who did not choose to incur that cost, often associated with the production or consumption of a good or service.
Advertising
The activity or profession of promoting products, services, or ideas through various forms of media.
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