As a Firm in a Perfectly Competitive Market Increases Its

question 39

Multiple Choice

As a firm in a perfectly competitive market increases its output,its marginal revenue ________ and its marginal cost ________.

• A)increases;increases
• B)increases;does not change
• C)does not change;decreases
• D)decreases;increases
• E)does not change;increases

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Definitions:

Planks and Stilts

Architectural or construction elements, with planks being long, flat pieces of timber used for building purposes, and stilts being poles, posts, or pillars used to raise structures or objects above the ground.

Food Scarcity

The situation that arises when the availability of food in a region is insufficient to meet the dietary needs of its population.

Paleolithic

Relating to the earliest period of the Stone Age, characterized by the development of the first stone tools by early humans.

Enamel Hypoplasia

A dental disorder characterized by a deficiency in the enamel of the teeth, resulting from disruption of enamel formation.