When an "Is A" Relationship Exists Between Objects, It Means

question 53

Multiple Choice

When an "is a" relationship exists between objects, it means that the specialized object has:

• A) some of the characteristics of the general class, but not all, plus additional characteristics
• B) some of the characteristics of the general object, but not all
• C) none of the characteristics of the general object
• D) all the characteristics of the general object, plus additional characteristics

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Definitions:

Marginal Cost

The change in total cost that arises when the quantity produced is incremented by one unit.

Output

The total amount of products or services produced by a company, industry, or economy within a specific period.

Price

The amount of money required to purchase a good or service; the value that must be exchanged to obtain a particular item.

Perfect Competitor

A firm in a perfectly competitive market, where there are many buyers and sellers, all products are identical, and no single buyer or seller can influence the market price.