____ Would Be an Example of a Periodic Expense

question 3

Multiple Choice

____ would be an example of a periodic expense.

• A) Food
• B) Vacation
• C) Utilities
• D) Taxes
• E) none of these

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Definitions:

Demand Schedule

A table or graph showing the quantity of a product or service demanded at various prices.

Imperfectly Competitive Firm

A business operating in a market where it has some control over the price of its product because competition is not completely intense.

Marginal Revenue

The additional revenue that a firm receives from selling one more unit of a product.

Barriers to Entry

Obstacles that deter or limit the ease with which newcomers can penetrate an industry or business field.