Read the Measurement Shown on the U

question 226

Multiple Choice

Read the measurement shown on the U.S. micrometer.

• A) 0.877 in.
• B) 0.87 in.
• C) 0.952 in.
• D) 0.895 in.
• E) 0.97 in.

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Definitions:

Economic Profit

The return flowing to those who provide the economy with the economic resource of entrepreneurial ability; the total revenue of a firm less its economic costs (which include both explicit costs and implicit costs); also called “pure profit” and “above-normal profit.”

X-Inefficiency

The difference between actual output and the maximum possible output that could be achieved with the same input of resources, due to inefficiencies within a firm.

Dynamic Change

The process of constant, sometimes unpredictable change within systems or environments, affecting economic, social, or technological aspects over time.

Usury Laws

Legislation that limits the amount of interest that can be charged on loans.