In 2016, a Firm Produced 100 Units of Good X

question 71

Multiple Choice

In 2016, a firm produced 100 units of good X at $1. In 2017, the firm produced 200 units of good X at $0.5. Between 2016 and 2017, the total revenue of producing good X

• A)stayed constant
• B)increased.
• C)might increase, decrease, or stay constant.
• D)decreased.
• E)was equal to zero.

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Definitions:

United States

A country located in North America with a federal republic government, known for being one of the world's largest economies.

Companies Creditors Arrangements Act

A Canadian federal law providing financially troubled corporations the opportunity to restructure their affairs through a formal plan of arrangement.

Bankruptcy and Insolvency Act

Legislation that outlines the legal procedures for dealing with the debts of individuals and businesses in financial trouble.

Canadian Criminal Code

A legal document that codifies most criminal offenses and procedures in Canada, serving as the primary source for criminal law in the country.