If the Price of Output for a Price Taker Is

question 159

Multiple Choice

If the price of output for a price taker is $9 and the marginal cost of the last unit produced is $8.50,then the

• A) extra benefit of the last unit produced is less than the extra cost.
• B) firm should lower its output to increase its profit.
• C) firm is earning an average profit of $0.50.
• D) extra benefit of the last unit produced is greater than the extra cost.
• E) firm is earning a positive profit.

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Definitions:

Questioning Skill

Questioning skill involves the ability to ask effective and meaningful questions that facilitate learning, understanding, or problem-solving.

Relevant Responses

Appropriate or suitable reactions or answers to questions or situations, which are directly connected to what is being asked or considered.

Active Listening

A communication technique that involves giving free and undivided attention to the speaker, reflecting back what is said, and withholding judgment and advice.

Somatic Sensations

Physical feelings or perceptions originating from the body, such as pain, temperature, or proprioception.