____________________ Formed as Mercury Cooled and Shrank

question 30

Short Answer

____________________ formed as Mercury cooled and shrank.

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Definitions:

Willingness to Pay

The maximum amount an individual is prepared to sacrifice to procure a good or avoid something undesirable.

Profit

The financial gain obtained when the revenue from business activities exceeds the expenses, costs, and taxes needed to sustain the activity.

Perfectly Price Discriminate

A pricing strategy where a seller charges the maximum possible price for each unit consumed that the buyer is willing to pay.

Output

Output refers to the total amount of goods and services produced by a company, industry, or economy within a given period.