If Demand Is __________ and Price Is _________,Total Revenue Will

question 86

Multiple Choice

If demand is __________ and price is _________,total revenue will ________.

• A)inelastic;raised;increase
• B)elastic;raised;increase
• C)inelastic;lowered;increase
• D)elastic;lowered;decrease

Understand the legal framework surrounding the use of software licenses and copyright.

Recognize the implications of federal laws on digital marketing practices.

Identify the elements and legality of cybersquatting under federal law protecting trademarks.

Comprehend the protections and liabilities involved in digital communication and commerce under federal regulation.

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Definitions:

Output

Output is the total amount of goods or services produced by a person, machine, business, or country.

Average Costs

Average costs refer to the total cost of production divided by the number of units produced, indicating the cost of producing each unit.

Marginal Costs

The cost added by producing one additional unit of a product or service.

Diseconomies of Scale

The phenomenon where production costs per unit increase as the scale of operation expands.