Assume the Marginal Revenue from Each Additional Unit of a Good

question 81

Multiple Choice

Assume the marginal revenue from each additional unit of a good sold is 0.In this case,we can conclude that demand for the good is:

• A)unit elastic
• B)perfectly elastic.
• C)perfectly inelastic.
• D)relatively inelastic.

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Definitions:

Cash Short

A situation where the recorded cash amount is less than the expected amount, often due to errors or theft.

Petty Cash

A small fund kept on hand used for minor, miscellaneous expenses of a business.

Misc. Expense

Miscellaneous Expense refers to small, infrequent costs that are not categorized under a specific heading in financial statements.