Test Your Knowledge on Firm Output
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Questions and Answers

Which concept describes the relationship between one firm's output and another firm's input?

  • d. mark-up
  • a. input (correct)
  • c. profit
  • b. output
  • e. loss

    • What is the term used to describe the financial gain made by a firm?

  • a. input
  • e. loss
  • c. profit (correct)
  • d. mark-up
  • b. output

    • Which term refers to the amount added to the cost price of a product to determine its selling price?

  • a. input
  • d. mark-up (correct)
  • c. profit
  • b. output
  • e. loss

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