If the Price of a Unit of Output for a Perfectly

question 115

Multiple Choice

If the price of a unit of output for a perfectly competitive firm is $5 and the profit-maximizing condition is met, then MP_L/P_L = MP_K/P_K = MP_A/P_A will be equal to

• A) $5.
• B) $1.67.
• C) $0.20.
• D) $0.05.

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Definitions:

Milgram Experiment

A psychological experiment conducted by Stanley Milgram in the 1960s to study obedience to authority, where participants were instructed to administer electric shocks to another person.

Stanford University Prison Experiment

A psychological study conducted by Philip Zimbardo in 1971 at Stanford University, where students were assigned roles of prisoners and guards to explore the effects of perceived power.

Generalization

Drawing a conclusion about a certain characteristic of a population based on a sample from it.

Logical Support

The provision of reasons or evidence to justify a claim or argument.