If a Competitive Firm Is Selling 1,000 Units of Its

question 360

Multiple Choice

If a competitive firm is selling 1,000 units of its product at a price of $8 per unit and earning a positive profit,then

• A) its average revenue is greater than $8.
• B) its marginal revenue is less than $8.
• C) its total cost is less than $8,000.
• D) All of the above are correct.

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Definitions:

Hebbian Learning

Hebbian learning is a theory in neuroscience that proposes an increase in synaptic efficacy arises from the presynaptic cell's repeated and persistent stimulation of the postsynaptic cell, foundational for understanding the adaptation of the brain during learning.

Depolarizing

A process in which a cell's membrane potential becomes less negative, often leading to the initiation of an action potential in neurons.

Neurotransmitters

Chemical messengers that transmit signals across synaptic gaps between neurons, influencing a variety of mental and physical functions.

Synaptic Cleft

The small gap between neurons, across which neurotransmitters move to transmit information.