Whats the Appropriate Descriptionof the Term

question 35

Short Answer

Whats the appropriate descriptionof the term?
-Identifies events and exposures that may be harmful to humans and estimates the probabilities of their occurrence as well as the extent of harm they may cause

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Definitions:

Profits

The financial gain calculated as the difference between the revenue earned from sales and the expenses, taxes, and costs incurred in producing those sales.

Short-Run Supply Curve

A graphical representation showing the relationship between the market price of a product and the amount of it that producers are willing to supply in the short term.

Marginal Cost Curve

A graph showing how the cost of producing one more unit of a good varies as the quantity of production increases.

Short Run

in economics, refers to a period during which at least one factor of production is fixed, and firms can adjust only the variable factors.