A Discount Given to Encourage Prompt Payment Is Called

question 126

Multiple Choice

A discount given to encourage prompt payment is called:

• A)a cash discount.
• B)a sales discount by the seller.
• C)a purchase discount by the buyer.
• D)all of these are correct.

Understand the conditions under which firms in a competitive market earn zero economic profit in the long run.

Identify the impact of factor prices on the market supply curve in the long term.

Understand the concept of a constant cost industry and its characteristics.

Explain the effects of short-run profit on market dynamics and long-run equilibrium in price-taker industries.

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Definitions:

Calcium

A chemical element, symbol Ca, essential for living organisms, particularly in cell physiology and bone formation.

Humerus

The humerus is the long bone in the upper arm, extending from the shoulder to the elbow.

Tibia

A large bone located in the lower leg, between the knee and the ankle, parallel to the fibula.

Ulna

One of the two long bones in the forearm, located on the side opposite the thumb and running parallel to the radius.