________: the area below the market demand curve and above the market supply curve.
Fill in the blank(s) with the appropriate word(s).
Total economic surplus
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What will be an ideal response?
In a series circuit, the largest amount of power is dissipated by:
A) the first resistor. B) the largest resistor. C) the smallest resistor. D) any resistor, since the current is the same throughout the circuit.
Re-engineering is an appropriate replacement for benchmarking when:
A. Your process is fairly strong relative to best-in-class. B. The best-in-class is not in your industry. C. Your process is not in statistical control, i.e. is unstable. D. Best-in-class is unwilling to cooperate.