A Factor Is a Consignee

question 45

True/False

A factor is a consignee.

---

Definitions:

Maximizes Profit

The strategy or process implemented to increase the difference between total revenue and total costs to the highest possible amount.

Marginal Revenue

Income gained by selling an additional unit of a product or service.

Marginal Cost

The increased expenditure incurred from producing one more unit of a product or service.

Demand Curve

A visual diagram that illustrates how the quantity of a product demanded by buyers correlates with its price.