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

question 358

Multiple Choice

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

• A)production of the 100th unit of output increases the firm's profit by $3.
• B)production of the 100th unit of output increases the firm's average total cost by $7.
• C)firm's profit-maximizing level of output is less than 100 units.
• D)production of the101st unit of output must increase the firm's profit by more than $3.

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Definitions:

Unequally Distributed

The condition in which resources, power, or opportunities are not shared equitably among all parties or individuals involved.

Uncertainty-avoidance Cultures

Cultures that have a low tolerance for ambiguity and uncertainty, often favoring strict rules and conventions to minimize the unpredictability of social interactions.

Ambiguous Situations

Scenarios or circumstances that lack clarity or have multiple interpretations, often leading to confusion or complexity in decision-making.

Stable Rules

Regulations or principles that remain constant and unchanged over time.