In the Context of the Business Products,capital Items That Typically

question 246

Multiple Choice

In the context of the business products,capital items that typically cost less and last for shorter periods than installations are called _____.

• A)shopping products
• B)accessory equipments
• C)supplies
• D)impulse products

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Definitions:

Average Cost

The sum of all production expenses divided by the amount of product made.

Marginal Revenue

The surplus revenue collected from the sale of an extra unit of a good or service.

Demand Schedule

A table that lists the quantity of a good that consumers are willing and able to purchase at various prices over a specified period of time.

Marginal Revenue

The added earnings garnered from the sale of one more unit of a product or service.