Which of the Following Creates an Object from a Class

question 18

Multiple Choice

Which of the following creates an object from a class?

• A) Encapsulation
• B) Inheritance
• C) Abstraction
• D) Polymorphism
• E) Instantiation

Understand how to calculate a firm's total profit.

Understand the graphical representation of economic concepts including demand, marginal revenue, average total cost, and marginal cost curves.

Understand the implications of perfect competition on a firm's long-run output levels.

Grasp the impact of perfect competition on the pricing strategies of a firm in the long-run.

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Definitions:

Purchasing Power

The worth of currency measured by how many goods or services can be purchased with one unit of it.

Deflation

A decrease in the general price level of goods and services, often leading to an increase in the real value of money.

Annual Interest Rate

The percentage of the principal that is paid as interest to the lender over the course of a year.

Consumer Price Inflation

The pace at which the average cost of goods and services elevates, resulting in diminished purchasing capacity.