Examlex
Briefly explain what has happened to the audience for network television in the past 25 or so years.
Equilibrium
A state in which market supply and demand balance each other, leading to price stability for a particular good or service.
Efficiency
The optimum allocation of resources to achieve the best possible output or outcome with minimal waste or inefficiency.
Equality
A state or condition of being equal, especially in status, rights, and opportunities.
Total Surplus
The sum of consumer and producer surplus, representing the total benefit to society from a market transaction.
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