Case EX 1-1 Clyde Is Using Excel to Create a Client

question 25

Multiple Choice

Case EX 1-1 Clyde is using Excel to create a client invoice for the event-planning business that he operates from his home office. If Clyde wants to enter a number as text, he can type a(n) ____ before the number to signal that it is not to be used in calculations.

• A) colon (:)
• B) apostrophe (')
• C) equal sign (=)
• D) question mark (?)

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Definitions:

Producer Surplus

The gap between the minimum amount sellers are prepared to accept for a product or service and the increased amount they actually get because of elevated market prices.

Deadweight Loss

A shortfall in economic efficiency due to a good or service not reaching free market equilibrium.

Total Surplus

The combined value of consumer and producer surplus that signifies the overall advantage to society through the manufacturing and consumption of products or services.

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive in the market.