Given That 1

question 11

Multiple Choice

Given that 1.00 in.= 2.54 cm,how many square centimeters are in 1.00 square inch?

• A)1.59
• B)2.54
• C)5.08
• D)6.45

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Definitions:

Marginal Revenue

The extra revenue gained by selling an additional unit of a product or service.

Economies of Scale

Cost advantages that entities attain due to the scale of operation, with costs per unit of output generally decreasing with increasing scale.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, measuring the performance exceeding opportunity costs.