The Suffix -Ase Means

question 704

Multiple Choice

The suffix -ase means:

• A)a process; being or having.
• B)condition.
• C)enzyme.
• D)pertaining to.

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Definitions:

Economic Profits

The excess of a firm's total revenues over its opportunity costs, reflecting profitability beyond the normal return on investment.

Competitive Price-searcher Market

A market in which firms have some control over prices because their products are differentiated, but they still face competition and must search for competitive pricing strategies.

Zero Economic Profit

A situation where a firm's total revenue equals its total costs, including both explicit and implicit costs, indicating no supernormal profit.

Marginal Revenue

The additional income gained from selling one more unit of a good or service.