A Perfectly Competitive Firm Has a Random Marginal Cost with a 20

question 80

Multiple Choice

A perfectly competitive firm has a random marginal cost with a 20 percent chance of a high marginal cost of $20 and an 80 percent chance of a low marginal cost of $5. What is the firm's expected marginal cost?

• A)$12
• B)$10
• C)$8
• D)$7

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Definitions:

Multi-Partite Virus

A type of computer virus that can infect both the boot sector and executable files, making it difficult to remove because it can be activated in multiple ways.

Hidden

Referring to files, directories, or settings not immediately visible to users or marked in a way that prevents their casual detection.

Mitotic Stage

A phase of the cell cycle involving mitosis, where the cell's nucleus divides, producing two daughter nuclei with the same genetic material as the parent cell.

Cytokinesis

Division of the cytoplasm following mitosis or meiosis.