Select the Letter of the Correct Word for Each Sentence

question 116

Multiple Choice

Select the letter of the correct word for each sentence.
-We had (quiet, quit, quite) a time at Tara's graduation party.

• A) quiet
• B) quit
• C) quite

---

Definitions:

Positive Profit

Positive profit occurs when a business's total revenues exceed its total costs, indicating financial gain from its operations.

Marginal Costs

Relates to the additional expenses faced when a business decides to increase its output or product quantity by one more unit.

Average Total Cost

The total cost of production divided by the quantity produced, representing the per-unit cost of production.

Price-Taker Industry

A sector in which businesses must accept the prevailing prices in the market as they have no influence over setting them.