What Is the Value of the Following

question 2

Multiple Choice

What is the value of the following?
Sqrtsqrtpow2,4) ) ) ;

• A) 1
• B) 2
• C) 4
• D) 16

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Definitions:

Price Taker

A market participant who has no influence over the market price and must accept the prevailing market price for its products or services.

Price Maker

An entity, typically a firm, with enough market power to influence or set the price of its product or service rather than taking the market price as given.

Average Revenue

The amount of income generated per unit of sale, calculated by dividing total revenue by the number of units sold.