Examlex
A(n) ____ is a piece of data required by an action in a macro.
Total Surplus
The sum of consumer surplus and producer surplus in a market, representing the total net benefits received by all participants.
Good
A material item or service that fulfills wants or needs, often exchanged in economic transactions.
Equilibrium Price
The market price at which the quantity of a good or service demanded equals the quantity supplied.
Equilibrium Quantity
The quantity of goods or services that is supplied and demanded at the equilibrium price in a market.
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