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:

Short Run

An interval in economic studies where a minimum of one production element remains constant and is unalterable.

Variable Costs

Expenses that change in proportion to the activity of a business.

Short Run

A time period in economics during which at least one input, such as plant size, is fixed and cannot be altered.

Profit Maximization

The procedure through which a business identifies the pricing and production volume that yields the highest earnings.