Identify Two ASME Terms That Reference a Number Assigned to an Item

question 2

Short Answer

Identify two ASME terms that reference a number assigned to an item on the field of the print and correlated to the part or identification number in the parts list.

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Definitions:

Marginal Costs

Marginal costs represent the change in total production cost that arises when the quantity produced is incremented by one unit.

Perfect Price Discrimination

A pricing strategy where a seller charges the maximum price each consumer is willing to pay, capturing the entire consumer surplus.

Total Profits

The overall financial gain realized by a business after subtracting all operational expenses, taxes, and costs from total revenues.

Price-discriminating Monopolist

A monopolistic market player that charges different prices for the same product or service to different customers, based on what each is willing to pay.