Use the Table Below to Answer the Following Questions

question 49

Multiple Choice

Use the table below to answer the following questions.
Table 11.2.1
-Refer to Table 11.2.1,which gives the total revenue schedule and total cost schedule of a perfectly competitive firm.If the firm produces 2 units of output,it

• A)makes an economic profit of $9.
• B)makes an economic profit of $60.
• C)incurs an economic loss of $9.
• D)incurs an economic loss of $60.
• E)incurs an economic loss of $69.

Understand the role of social networks and activities in relationship management.

Comprehend the use of body language and approachability cues in initiating and managing relationships.

Understand the principles of uncertainty reduction theory and its application in relationships.

Analyze conflict management strategies for maintaining and escalating relationships.

---

Definitions:

Real Cost

The total cost of producing a good or service, including all resources consumed and opportunity costs, in contrast to its financial cost.

Law of Diminishing Returns

An economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other factors remain constant.

LRATC

Long-Run Average Total Cost, referring to the average cost per unit of output when all inputs are considered variable over time.

Economies of Scale

Businesses experience cost savings linked to the size of their operations, with the per-unit cost usually falling as the operation size grows.