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Kevin is studying predator-prey interactions. One day he notices a spider eating a cricket caught in its web. Later that day, a bird eats the spider. How many producers are there is this scenario?
Demand Curve
A visual depiction highlighting how the cost of a good influences the quantity that buyers seek.
Price
The amount of money required to purchase a good or service; it acts as a signal between sellers and buyers.
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.
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