Examlex
A person with sickle cell trait has some normal beta hemoglobin chains in his or her blood.
Market Price
The current price at which an asset or service can be bought or sold in a competitive marketplace.
Consumer Surplus
The difference between the total amount consumers are willing and able to pay for a good or service versus the total amount they actually pay.
Producer Surplus
The difference between what producers are willing to accept for a good versus what they actually receive.
Price Ceiling
A government-imposed limit on how high a price can be charged for a product or service, often intended to protect consumers from excessive prices.
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