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A wire of length L and resistance R is now drawn out by pulling such that its new length is 1.5L.What is its new resistance? (Assume the density remains constant.)
Net Social Gain
The overall benefit to society, measuring the difference between total benefits and total costs when any action or policy is implemented.
Consumer Surplus
The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount they actually do pay.
Monopoly
A market structure characterized by a single seller, selling a unique product in the market with no close substitutes, leading to a lack of competition.
Net Social Gain
The total benefit to society after subtracting the costs associated with an economic activity or policy.
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