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In the Market for Computers,if the Demand Curve Is Elastic

question 126

Multiple Choice

In the market for computers,if the demand curve is elastic and the price of a computer decreases,we expect total revenue to _____.If the demand curve is inelastic and the price of a computer decreases,we expect total revenue to _____.


Definitions:

Job-Order Costing System

An accounting method used to accumulate and assign costs to custom or unique products or jobs.

Predetermined Overhead Rate

A rate used to allocate manufacturing overhead to products or job orders, based on estimated costs and activity levels.

Manufacturing Departments

Specialized functional areas within a manufacturing facility where specific stages of production are carried out.

Machine-Hours

A measurement of production time using the number of hours machines are operated.

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