If a Perfectly Competitive Firm Produces at an Output Level

question 23

Multiple Choice

If a perfectly competitive firm produces at an output level where marginal cost equals marginal revenue,then

• A)the last unit produced adds the same amount to costs as it does to revenue.
• B)the difference between TR and TC is zero.
• C)the firm is maximizing its revenue.
• D)the firm should shut down.
• E)there is no reason to reduce or expand output,as long as AVC is greater than or equal to price.

Understand the basic elements and formatting of a business letter.

Recognize and apply appropriate punctuation and spacing in business letters.

Identify the types of envelopes and their uses in business correspondence.

Understand the role and characteristics of letterheads in formal communication.

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Definitions:

Quaternary Ammonium Salt

A compound containing a nitrogen atom bonded to four alkyl groups, with a positive charge balanced by a negatively charged anion.

Alkyl Sulfonyl Chloride

Organic compounds used as intermediates in the synthesis of sulfonyl derivatives, featuring a sulfonyl group attached to an alkyl chain ending with a chlorine atom.

1° Amine

Primary amine, an organic compound featuring a basic nitrogen atom with one alkyl or aryl group.

Sulfonamide

A functional group or compound containing the sulfonamide group, which is -SO2NH2, used in many drugs.