Examlex
Gwen has posted a questionnaire on MySpace asking her friends to support her idea of cell phones in the classroom. She ignores anyone opposing her beliefs, which is an example of
Consumer's Surplus
The difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount they actually pay.
Earplugs
Small devices inserted into the ear canal to protect the ears from loud noises, water, or to block out sound for concentration or sleep.
Utility Function
Mathematical model that quantifies satisfaction levels consumers receive from consuming various quantities of goods and services, guiding choices under constraint.
Consumer's Surplus
The gap between what consumers are prepared and capable of spending for a product or service and the aggregate sum they end up paying.
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