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Two long,parallel wires carry currents of different magnitudes.If the current in one of the wires is doubled and the current in the other wire is halved,what happens to the magnitude of the magnetic force that each wire exerts on the other?
Consumer Surplus
The deviation between the cumulative amount consumers are inclined to spend on a good or service and the amount they really spend.
Demand Curve
A graph showing the relationship between the price of a good or service and the quantity of that good or service consumers are willing and able to purchase, typically downward sloping.
Price
The financial sum necessary for acquiring a good or service.
Willingness to Pay
The utmost expenditure an individual is comfortable making on a good or service, demonstrating the value they attribute to it.
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