A Certain Competitive Firm Sells Its Output for $20 Per

question 550

Multiple Choice

A certain competitive firm sells its output for $20 per unit. The 50th unit of output that the firm produces has a marginal cost of $22. Production of the 50th unit of output does not necessarily

• A)increase the firm's total revenue by $20.
• B)increase the firm's total cost by $22.
• C)decrease the firm's profit by $2.
• D)increase the firm's average variable cost by $0.44.

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Definitions:

Congruence

The agreement or harmony between thoughts, feelings, and behaviors, or the geometric concept where figures are identical in shape and size.

Carl Rogers

An influential American psychologist who founded client-centered therapy and emphasized the importance of unconditional positive regard in the therapeutic process.

Self-monitoring

The process of observing and regulating one's own behavior, thoughts, and emotions in various situations.

Neuroticism

A personality trait characterized by emotional instability, anxiety, moodiness, irritability, and sadness.