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When Axel arrives late for class, he walks in with a grand entrance and apologizes to the professor and the students in class. He proceeds to tell them he had every intention of being at class on time, but the traffic was terrible and many accidents occurred, which delayed him. Axel describes this in much exaggerated detail before he takes his seat. This commonly happens every time he is late. Axel could be diagnosed with which personality disorder?
Equilibrium
A state where market supply and demand balance each other, and as a result, prices become stable.
Excise Tax
A tax charged on specific goods and services, such as tobacco, alcohol, and gasoline, usually intended to discourage their use or generate revenue.
Revenue Generated
The total amount of money received by a company from its sales of goods or services, before any expenses are subtracted.
Deadweight Loss
A decline in economic productivity that happens when a good or service does not reach or cannot reach its equilibrium.
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