An Office Supply Store Sells a Ream of Printer Paper

question 84

Multiple Choice

An office supply store sells a ream of printer paper at a fixed price of $4.50.Which of the following is a term used by economists to describe the money received from the sale of an additional ream of paper?

• A)marginal revenue
• B)gross earnings
• C)pure profit
• D)marginal costs
• E)net benefit

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Definitions:

Abnormally Dangerous Activity

An abnormally dangerous activity is a legal term for actions that inherently pose a significant risk of harm to others, requiring those who engage in these activities to be strictly liable for any resulting injuries or damages.

Common Law

A set of laws that are not formally written down, but are instead determined by historical court outcomes.

Trespass to Land

An unauthorized or unlawful entry onto land that is owned or possessed by another person.

Exclusive Possession

A legal right allowing an individual or entity sole use and control over a property or asset, without interference from others.