Refer to the Information Provided in Figure 9

question 146

Multiple Choice

Refer to the information provided in Figure 9.2 below to answer the question(s) that follow. Figure 9.2
-Refer to Figure 9.2. If MR = $5, then in the long run

• A) the firm will increase its price and output.
• B) the firm will exit the industry.
• C) new firms will enter the industry and the current firms will expand production.
• D) firms will increase their output so that their average fixed cost per unit falls.

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Definitions:

Sound Waves

Sounds that move through air or a different substance and become audible when they arrive at a person's or animal's eardrum.

Frequencies

The rate at which a vibration occurs that constitutes a wave, either in a material (as in sound waves) or in an electromagnetic field (as in radio waves and light), usually measured in hertz.

Hz

Hertz, a unit of frequency in the International System of Units (SI) that measures the number of cycles per second of any periodic event.

Temporal Lobe

A region of the cerebral cortex involved in processing auditory information and is also important in understanding language, learning, and memory.