The Graph Below Shows Demand and Marginal Cost for a Perfectly

question 80

Multiple Choice

The graph below shows demand and marginal cost for a perfectly competitive firm.If the firm is producing 300 units of output,decreasing output by one unit would ______ the firm's profit by $______.

• A)decrease,$2
• B)increase,$2
• C)increase,$3
• D)decrease,$5
• E)increase,$5

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Definitions:

Strategic Plans

Detailed, carefully crafted outlines of how an organization intends to achieve its long-term goals and objectives.

Single-use Plans

Plans devised for a specific situation or project and intended to be used only once, not applicable to recurring situations.

Procedures

Systematic instructions or steps designed to perform a specific task or process effectively and efficiently.

Policies

Established guidelines or rules that govern the decision-making process and actions within an organization.