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If the Price of Apple Pies Rose to $100 Per

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If the price of apple pies rose to $100 per pie,consumers would purchase fewer pies than if the price were $5 per pie.If the price of ice cream fell to $0.30 per scoop,consumers would purchase more ice cream than if the price were $5 per scoop.These relationships illustrate the


Definitions:

Income Taxes

Taxes imposed by the government on the income generated by businesses and individuals.

Net Present Value

A financial metric that calculates the present value of all cash flows (both incoming and outgoing) associated with an investment, adjusted for time and interest.

Internal Rate of Return

A financial metric used to evaluate the profitability of an investment, indicating the annual return that makes the net present value of all cash flows from a particular project equal to zero.

Cash Flows

The sum of cash flowing in and out of a company, particularly influencing its available cash assets.

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