Examlex
Inmates who do not break rules are given ______ time.
Excess Quantity
The situation where the supply of a product exceeds the demand for it at a specific price point, leading to a surplus.
Deadweight Loss
A loss of economic efficiency that can occur when the equilibrium for a good or a service is not achieved.
Market Equilibrium
The state in which the supply and demand for a good or service are balanced, leading to a stable price.
Consumer Surplus
The variance between the total price consumers are ready and able to fork over for a good or service and the sum they ultimately pay.
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