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Peregrine Exam Day 8 Questions and Verified Answers| 100% Solved
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Peregrine Exam Day 8 Questions and Verified Answers|100% Solved
fixed costs - ✔✔Costs that do not vary with the quantity of output produced
variable costs - ✔✔costs that vary with the quantity of output produced
revenue - ✔✔An increase in owner's equity resulting from the operation of a business
income - ✔✔money received, especially on a regular basis, for work or through investments.
individual demand - ✔✔the relation between the price of a good and the quantity purchased
by an
individual consumer per period, other things constant
consumption - ✔✔spending by households on goods and services, with the exception of
purchases of
new housing
consumer demand - ✔✔The amount of a good or service a consumer is willing and able to
purchase at a
range of prices.
supply curve - ✔✔a graph of the relationship between the price of a good and the quantity
supplied
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