If, for the Last Unit of a Good Produced by a Perfectly

question 66

Multiple Choice

If, for the last unit of a good produced by a perfectly competitive firm, MR > MC, then in producing that unit the firm

• A)added more to total costs than it added to total revenue.
• B)added more to total revenue than it added to total costs.
• C)added an equal amount to both total revenue and total costs.
• D)maximized profits or minimized losses.

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Definitions:

Filament

A thin, thread-like structure, often part of a larger network, used in various biological and industrial contexts.

Sphagnum

A genus of mosses known for their role in creating peat bogs, which are significant ecosystems for carbon storage.

Bryophyte

A group of non-vascular plants that includes mosses, liverworts, and hornworts, known for their life cycle that prominently features a gametophyte stage.

Economically Important

An entity or activity considered economically important provides significant financial value or impact to an economy through jobs, goods, services, or commerce.