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A 400-g block of iron at 400°C is dropped into a calorimeter (of negligible heat capacity) containing 60 g of water at 30°C.How much steam is produced? The latent heat of vaporization of water is 22.6 × 105 J/kg and its specific heat capacity is 4186 J/kg ∙ K.The average specific heat of iron over this temperature range is 560 J/kg ∙ K.
Variable Costs
Costs that change in direct proportion to sales.
Price Elastic
Refers to how sensitive the demand for a product is to changes in its price; high elasticity indicates demand significantly changes with price adjustments.
Price Inelastic
Describes a situation where the demand for a product does not significantly change with a change in its price.
Price Volatile
Referring to how quickly and to what extent the price of a commodity or asset can change within a short period of time.
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