A Perfectly Competitive Firm Producing 100 Units of Output Per

question 191

Multiple Choice

A perfectly competitive firm producing 100 units of output per period finds that: Average total cost is $20;
Average variable cost is $12;
Marginal cost is $18 and increasing;
Price of the product is $15.
This firm should

• A)produce more output
• B)raise the price of its product
• C)reduce production without shutting down
• D)shut down (reduce output to zero)
• E)do nothing (it is currently maximizing profit)

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Definitions:

Nonequivalent Control Group Pretest-posttest Design

An experimental design where participants are not randomly assigned to groups and both groups are pre-tested and post-tested, allowing comparison despite the lack of random assignment.

Procedures of the Study

Descriptions of the specific methods and steps taken by researchers to collect, analyze, and report their findings.

Participants

Individuals who take part in a study or experiment, contributing data through their actions, responses, or experiences.

Pretest to Posttest Scores

The comparison of scores on a particular assessment before and after a specific intervention or period of time.