Exhibit 8-4 Marginal Cost and Revenue for a Firm -In Exhibit 8-4, This Firm Is Currently Producing 16 Units

question 104

Multiple Choice

Exhibit 8-4 Marginal cost and revenue for a firm $$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Unit } \\\text { Quantity }\end{array} & \text { Marginal Cost } & \begin{array} { c } \text { Marginal } \\\text { Revenue }\end{array} \\\hline 12 & \$ 5 & \$ 9 \\13 & 6 & 9 \\14 & 7 & 9 \\15 & 8 & 9 \\16 & 9 & 9 \\17 & 10 & 9 \\\hline\end{array}$$
-In Exhibit 8-4, this firm is currently producing 16 units of output. What would you advise this firm to do?

• A) Decrease output to 13.
• B) Increase output to 15.
• C) Remain at 16 units of output.
• D) Decrease output to 14.
• E) Increase output to 17.

Describe the process of making trinitrotoluene (TNT) and the role of taggants in explosives.

Explain the concept of a low explosive and the typical yield of gases from the combustion of organic solids.

Understand the importance of the oxygen balance in explosives and its implications.

Apply the kinetic-molecular theory to describe the behavior of gases.

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Definitions:

Labor

The use of human mental and physical efforts in the process of producing goods and offering services.

Average Total Cost

The average cost per unit of output, calculated by dividing the total production cost by the quantity of goods produced.

Fixed Cost

Expenses that do not change with the level of production or sales over a certain period, such as rent or salaries.

Output

The amount of goods or services produced by a person, machine, or industry.