Use the Following to Answer Questions

question 11

True/False

Use the following to answer questions :
Figure 3-6
-Given the supply and demand curves drawn in Figure 3-6, an increase in the cost of an input can be expected to push the market clearing price up and the market clearing quantity down.

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Definitions:

Departmental Gross Profit

The profit made by individual departments within a company, calculated by subtracting the cost of goods sold from the sales revenue generated by each department.

Revenue

Income generated from normal business operations and includes discounts and deductions for returned merchandise.

Profit Center

A segment or part of a business directly responsible for its profits and losses.

Toy Department

A specialized retail section dedicated to selling toys and games.