INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 27

Short Answer

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select A for the first item, B for the second item, and C if neither item will correctly complete the statement.
Using an FHA mortgage to finance your home would require a [ lower | higher ] down payment than a conventional loan.

---

Definitions:

Marginal Revenue

The increased earnings a business obtains from the sale of one extra item or service.

Marginal Cost

The increase in total cost that arises from producing one additional unit of a product.

Output

The quantity of goods or services produced in a given time period by a firm, industry, or country.

Economic Profit

The divergence between aggregate income and total outlays, inclusive of both tangible and intangible expenses.