In an Equation, a Constant Is

question 7

Multiple Choice

In an equation, a constant is

• A) always represented by the letter "c."
• B) a term that you can ignore.
• C) another word for "variable."
• D) a number that does not change its value in a given situation.

---

Definitions:

MR<MC

A condition in microeconomics indicating that the marginal revenue is less than the marginal cost, suggesting a decrease in profit if production is increased.

Decrease Production

The act of reducing the quantity of goods produced by a business or economy.

Firm Should

Advises or considerations regarding strategic decisions that businesses ought to follow to achieve objectives such as profitability, growth, or sustainability.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.