When It Produces and Sells 80 Units of Output, a Competitive

question 24

Essay

When it produces and sells 80 units of output, a competitive firm's average total cost is $25 and its profit is $480. What is the firm's total revenue if it sells 85 units of output?

---

Definitions:

Cohesiveness

The degree to which members of a group or team are attracted to each other and motivated to stay in the group.

Cultural Relativism

The principle that an individual's beliefs and activities should be understood by others in terms of that individual's own culture.

Rule-Based Ethics

An ethical framework where actions are judged right or wrong based purely on adherence to a set of rules or ethical guidelines.

Consequential Ethics

An ethical approach that evaluates the morality of actions based on their outcomes or consequences.