Cost Curves Shift If

question 85

Multiple Choice

Cost curves shift if
i.technology changes.
ii.the prices of factors of production change.
iii.productivity changes.

• A) only i
• B) i and iii
• C) only ii
• D) i and ii
• E) i, ii, and iii

Familiarize with the origin of atomic symbols for elements and their etymological roots.

Discern between metals, metalloids, and non-metals based on their properties.

Understand the chemical compositions and formulas of various compounds.

Identify elements based on their symbols and names in the periodic table.

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Definitions:

Net Income

The amount of earnings left over after all expenses have been deducted from revenue, indicating the financial profitability of a business.

Gross Profit Method

A technique to estimate the inventory's value by deducting the cost of goods sold from the total sales revenue.

Estimated Ending Inventory

An approximation of the value or quantity of inventory that a company has on hand at the end of an accounting period, calculated for planning or valuation purposes.

Gross Profit Rate

The percentage of revenue that exceeds the cost of goods sold, indicating how efficiently a company uses its resources to produce goods.