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Describe how to use the most current diagnostic coding classification system
Allocative Efficiency
A state of the economy in which production represents consumer preferences; every good or service is produced up to the point where the last unit provides a benefit to consumers equal to the cost of producing it.
Producer Surplus
The variance between the price producers are willing to take for a good or service and the price they end up receiving.
Consumer Surplus
The discrepancy between the price consumers are ready to offer for a good or service and the price they end up paying.
Marginal Benefit
The enhanced enjoyment or utility gained from the consumption of one extra unit of a good or service.
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