Refer to the Following Figure

question 70

Multiple Choice

Refer to the following figure:

The graph shows demand and marginal cost for a perfectly competitive firm.
-If the firm is producing 300 units of output, decreasing output by one unit would ______ the firm's profit by $______.

• A) decrease, $2
• B) increase, $2
• C) increase, $3
• D) decrease, $5
• E) increase, $5

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Definitions:

Aspirin

A medication used to reduce pain, fever, or inflammation, it also has an antiplatelet effect for preventing blood clots.

Percocet

A prescription painkiller that combines oxycodone, a powerful opioid, with acetaminophen, used to treat moderate to severe pain.

Proprietary Name

A brand name given by the manufacturer to a product, especially a drug, under which it is marketed and sold.

Chemical Name

The precise name of a chemical as determined by its molecular structure and nomenclature standards.