Examlex
__________ explorers first arrived in the Americas in 1519.
Competitive Salaries
Compensation levels offered by employers that are at or above the market rate to attract and retain talent.
Consumer Surplus
The difference between the maximum price a consumer is willing to pay for a good or service and the actual price they pay.
Producer Surplus
The difference between the amount producers are willing to sell a good for and the actual amount they receive by selling it at the market price.
Total Surplus
The sum of consumer and producer surplus; represents the total net benefit to society from the production and consumption of a good or service.
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