For a Certain Firm, the 100th Unit of Output That

question 44

Multiple Choice

For a certain firm, the 100th unit of output that the firm produces has marginal revenue equal to $10 and a marginal cost of $7. It follows that

• A) the production of the 100th unit of output increases the firm's profit by $3.
• B) the production of the 100th unit of output increases the firm's average total cost by $7.
• C) the firm's profit-maximizing level of output is less than 100 units.
• D) the production of the 110th unit of output must increase the firm's profit by less than $3.

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Definitions:

Boiling Points

The temperature at which a substance transitions from the liquid phase to the gas phase under standard atmospheric pressure.

Retention Time

The time taken for a substance to travel through a chromatography column to the detector, a critical parameter for identifying substances in the mix.

Gas Chromatograph

An analytical instrument that measures the content of various components in a sample by separating and analyzing vapors.

Blank Sample

A sample without the analyte of interest, used as a control in analytical measurements.