Table 12-4 Table 12-4 Shows the Short-Run Cost Data of Data

question 79

Multiple Choice

Table 12-4
Table 12-4 shows the short-run cost data of a perfectly competitive firm. Assume that output can only be increased in batches of 20 units.
-Refer to Table 12-4. If the market price is $45, the firm

• A) earn a profit of $3,600.
• B) will suffer a loss of $200.
• C) will break even.
• D) will earn profit of $1,040.

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Definitions:

Feathers

Specialized skin growths in birds, contributing to flight, insulation, and display.

Maintaining Temperature

The process by which living organisms regulate their internal temperature within certain limits despite external environmental changes.

Shivering

An involuntary response to cold temperatures, producing heat through rapid muscle contractions to maintain body temperature.

Negative Feedback System

A regulatory system in which a change in some steady state triggers a response that counteracts, or reverses, the change, restoring homeostasis (e.g., how mammals maintain body temperature). Compare with positive feedback system.