Figure 14-4

question 204

Multiple Choice

Figure 14-4
In the following figure, graph (a) depicts the linear marginal cost (MC) of a firm in a competitive market, and graph (b) depicts the linear market supply curve for a market with a fixed number of identical firms.
​

-Refer to Figure 14-4. If there are 100 identical firms in this market, what is the value of Q₂?

• A)10,000
• B)20,000
• C)40,000
• D)80,000

---

Definitions:

Generalized Expectancies

Beliefs about how often actions lead to rewards versus punishment.

Reinforcement Value

How enticing a particular reward is.

External Locus

The belief that one's life events are largely controlled by external forces or fate rather than one's own efforts.

Unconditioned Response

In classical conditioning, it is the automatic, natural reaction elicited by an unconditioned stimulus without prior learning or conditioning.