Which of These Is an Example of a Relatively Modern

question 35

Multiple Choice

Which of these is an example of a relatively modern cognitive artifact?

• A) the number system
• B) mathematics
• C) written language
• D) electricity

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Definitions:

Marginal Revenue

The revenue enhancement a company experiences by selling another unit of a product or service.

Total Revenue

The total amount of money received by a firm from sales of its products or services, calculated as the quantity sold times the price per unit.

MC < MR

A condition in economic theory where marginal cost is less than marginal revenue, suggesting that increasing production would be profitable.

Profit Maximized

The point at which a firm achieves the highest possible profit margin, where marginal revenue equals marginal cost.