Placing a Parameter Name Within the Parentheses of a Function

question 33

Short Answer

Placing a parameter name within the parentheses of a function definition is the equivalent of declaring a new ____________________ .

---

Definitions:

Shut Down

Cessation of a firm’s operations as output falls to zero.

Break-even Point

The level of production or sales at which total revenues equal total expenses, resulting in neither profit nor loss.

Marginal Revenue

The extra revenue generated through the sale of an additional unit of a product or service.

Marginal Cost

The additional total cost incurred from manufacturing an additional unit of a product or service.