What Is a Local Variable

question 57

Multiple Choice

What is a local variable?

• A)A variable that is declared in the header of a class.
• B)A variable that is declared in the body of the class.
• C)A variable that is declared in the header of a method.
• D)A variable that is declared in the body of a method.

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Definitions:

Supply Curve

The supply curve is a graphical representation showing how the quantity of a good that a supplier is willing and able to sell varies depending on the price.

Long-run Equilibrium

A state in which all factors of production and costs are variable, allowing firms in a perfectly competitive market to make zero economic profit, balancing supply and demand.

Maximum Profits

The highest possible financial gain that a business can achieve in a given period, optimizing revenue while minimizing costs.