Write the Logarithmic Statement in Exponential Form

question 1

Multiple Choice

Write the logarithmic statement in exponential form. log ₁₀1,000,000 = 6

• A) 10 ^1,000,000 = 6
• B) 10 ⁶ = 1,000,000
• C) 6¹⁰ = 1,000,000

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Definitions:

Economies Of Scale

The cost advantage that arises with increased output of a product, as fixed costs are spread out over more units of production.

Total Demand

The entire quantity of a product or service that consumers in a market are willing and able to purchase at various prices.

Marginal Revenue

The additional revenue that a firm receives from selling one extra unit of a product or service.

Demand Schedule

A Demand Schedule is a tabular representation of the relationship between the price of a good or service and the quantity demanded by consumers, underlining the law of demand.