When a Competitive Firm Doubles the Quantity of Output It

question 492

Multiple Choice

When a competitive firm doubles the quantity of output it sells, its

• A)total revenue doubles.
• B)average revenue doubles.
• C)marginal revenue doubles.
• D)profits must increase.

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Definitions:

Long-Term Healthcare

A range of services that support the medical and non-medical needs of people with chronic illnesses or disabilities over an extended period.

Obstetrician

A medical doctor specializing in pregnancy, childbirth, and the postpartum period, providing care for both the mother and fetus.

Endocrinologist

A physician specialized in diagnosing and treating disorders of the endocrine system, which includes glands that produce hormones.

Pediatrician

A medical doctor specializing in the care, diagnosis, and treatment of children’s diseases and conditions from infancy through adolescence.