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Mr. and Mrs. Jelk file a joint return. They provide 65% of the financial support for David, the 14-year old son of a friend who died three years ago. David lives in the home of his aunt Sarah, who provides 35% of his financial support. Which of the following statements is true?
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The quantity of goods or services produced by a business or economy during a specific period.
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Graphical representations that show how a firm's revenue changes in response to changes in price, holding other factors constant.
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The overall amount of money earned by a company from the sale of its goods or services, calculated as the price per unit times the number of units sold.
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Price charged refers to the amount of money levied on a product or service by a seller, which the buyer must pay to complete the transaction.
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