Examlex
Which of the following is a set of techniques that are used to lead people to believe in the truth of what a psychic or medium is saying about them and relies on uncritical acceptance,the confirmation bias,and the Barnum effect?
Wedge
The difference between the demand price of the quantity transacted and the supply price of the quantity transacted for a good when the supply of the good is legally restricted. Often created by a quantity control, or quota.
Demand Price
The price of a given quantity at which consumers will demand that quantity.
Perfectly Inelastic
A market situation where the quantity demanded or supplied does not change in response to a change in price.
Deadweight Loss
The inefficiency caused in a market where all potential gains from trade are not realized due to factors like taxes or subsidies.
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