The Following Questions Refer to the Accompanying Diagram of a Normal

question 139

Short Answer

The following questions refer to the accompanying diagram of a normal spirogram. The wave labels have been removed and replaced with letters A-H. Match the letter with list of missing terms below to complete the diagram.
-functional residual capacity

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Definitions:

Total Surplus

The sum of consumer surplus and producer surplus, representing the total net benefits to society from a market transaction.

Private Value

The individual valuation of a good or service to a particular consumer or producer, not taking into account external effects or social welfare.

External Benefits

Positive effects of a product or service on individuals or entities who are not directly involved in the transaction or production of the product or service.

External Benefit

A positive effect or advantage that results from a product or service's use, affecting individuals or entities who are not directly involved in the transaction.