Examlex
What is a saccade?
Consumer Surplus
The differential between the amount envisioned by consumers to pay for a good or service and the actual amount paid.
Perfectly Competitive
A market structure characterized by many buyers and sellers, free entry and exit, and a homogeneous product.
Consumer Surplus
The distinction between the ideal payment by consumers for a product or service and the financial outlay they make.
Average Cost
An alternative term for average total cost; the total cost divided by the quantity of output produced.
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