Examlex
MATCHING
Identify the letter of the choice that best matches the phrase or definition.
-The standard audio file format developed by Apple
Output Effect
The change in total revenue generated by selling an additional unit of a product or service.
Substitution Effect
The economic understanding that as prices rise or income decreases, consumers will replace more expensive items with cheaper alternatives.
Price of Capital
The cost of using capital assets, which can include interest rates on loans used to purchase the assets or opportunity costs of investing capital elsewhere.
Demand for Labor
The total amount of labor that employers want to hire at varying wage rates in a given time period.
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