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Choose two of the four following types of psychologists and describe some of the tasks these individuals are likely to perform:
(a) Environmental psychologists
(b) Forensic psychologists
(c) Sports psychologists
(d) School psychologists
Producer Surplus
The difference between the amount producers are willing to accept for a good or service versus what they actually receive, usually a measure of profit.
Market Price
The price at which a service or asset is presently traded in a given market.
Full Cost
Full cost involves calculating the total cost of production, including both fixed and variable costs, to assess the overall expenses incurred by a business.
Consumer Surplus
The difference between what consumers are willing to pay for a good or service and what they actually pay, representing the benefit to consumers from market transactions.
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