By Setting MR = MC,a Competitive Firm Decides to Sell

question 59

Multiple Choice

By setting MR = MC,a competitive firm decides to sell 100 units when the market price is $20.The average cost of producing the 100 units is $18 per unit.If the firm has fixed costs of $500,then the firm should

• A) shutdown
• B) expand production
• C) exit the industry
• D) increase their price

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Definitions:

Dysrhythmia

An irregularity in heart rhythm; also called arrhythmia.

Cardiac Output

The product of heart rate and stroke volume, measured in liters per minute; the amount of blood that is pumped by the heart in 1 minute.

Ventricular Fibrillation

A life-threatening heart rhythm that results in a rapid, erratic heartbeat, preventing the heart from pumping blood effectively.

Electrical Impulse

A rapid surge of electrical energy that travels through neurons, facilitating nerve signaling in the body.