Use the Following to Answer Question

question 123

Multiple Choice

Use the following to answer question:
-(Table: Lilly's Apple Orchard) Use Table: Lilly's Apple Orchard.Lilly is the price-taking owner of an apple orchard;the orchard's variable costs are given in the table.Her orchard has fixed costs of $30.If the price of a bushel of apples is $85,we would expect total industry output to _____ and Lilly's output to _____ in the long run.

• A)rise;rise
• B)fall;fall
• C)fall;rise
• D)rise;fall

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Definitions:

Implicit Memory

A form of memory where past experiences assist in executing a task without actively recalling these past encounters.

Procedural Memory

The part of long-term memory that is responsible for knowing how to do things, also known as motor skills.

Semantic Memory

A type of long-term memory involving the storage and recall of general knowledge and facts about the world.

Limbic System

A detailed mesh of neurons and pathways in the brain, found close to the cortex's outer limits, essential for the regulation of innate tendencies and mood variations. It manages primary feelings (such as joy, fear, and hostility) and basic desires (hunger, sexual drives, leadership, and offspring protection).