Examlex
Which of the following is one of the largest wikis on the web and one of the 10 most popular web destinations?
Perfectly Elastic
Perfectly elastic describes a situation where the quantity demanded or supplied responds infinitely or extremely to changes in price.
Shutdown Point
The level of production and price at which a business's total revenue is equal to its total variable costs, making it indifferent between ceasing operations and continuing to produce.
Break-even
The point at which revenue received equals the costs associated with receiving the revenue, resulting in neither a profit nor a loss.
Profitable Output
The level of production at which a business or economic activity generates the highest amount of profit, balancing costs and revenues efficiently.
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