Examlex
Perform the division. If there is a remainder, leave the answer in form.
Revenues
The total income produced by a company from its activities, before any expenses are subtracted.
Long-run Supply Curve
A graphical representation that shows the relationship between the price of a good and the quantity supplied over a period long enough for producers to adjust all of their inputs.
Short-run Supply Curve
A graphical representation showing the relationship between the price of a good and the quantity supplied over a short period, holding some inputs fixed.
Elastic
Describes a situation where the quantity demanded or supplied of a good or service is sensitive to changes in price.
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