What Value Is Represented by Each of the Following Patterns

question 37

Short Answer

What value is represented by each of the following patterns in excess notation?
A. 10000 ____
B. 0110 ____
C. 1100 ____

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Definitions:

Inelastic Portion

A segment of the demand curve where consumers are relatively unresponsive to price changes, indicating a demand elasticity of less than one.

Marginal Revenue

The additional income earned from selling one more unit of a product or service.

MR = MC

An economic principle stating that profit maximization occurs when marginal revenue equals marginal cost.

Profits

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