Robin Attended a Business Conference Where the Keynote Speaker Provided

question 137

True/False

Robin attended a business conference where the keynote speaker provided a very entertaining presentation.She thought several of the speaker's jokes were funny and found some of the points he made interesting.But she left the speech unsure of the speaker's main point and how it related to her.As far as Robin was concerned,the speaker was not an effective communicator.

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Definitions:

Good

A material item or service that satisfies a want or need and is available for sale or trade.

Deadweight Loss

Deadweight loss represents the efficiency lost to an economy because of market inefficiencies or interventions, where resources are not allocated optimally.

Consumer Surplus

The misalignment between the price consumers are willing to allocate for a good or service and the price they actually allocate.

Producer Surplus

The difference between what producers are willing to sell a good for and the actual market price they receive, representing the profit producers make.