What Is the Difference Between a Mercury Thermometer and a Dial

question 12

Essay

What is the difference between a mercury thermometer and a dial thermometer?

---

Definitions:

Quantity Effect

The change in quantity demanded or supplied of a good or service due to a change in its price.

Price-elastic Demand

A situation where the quantity demanded of a good or service significantly changes in response to changes in its price.

Total Revenue

Total revenue is the total amount of money received by a company from sales of its goods or services before any expenses are subtracted.

Price Inelastic

Refers to a situation where the demand for a product does not change much with a change in price.