At the Current Level of Output, a Profit-Maximising Firm in a Competitive

question 129

Multiple Choice

At the current level of output, a profit-maximising firm in a competitive market earns average revenue of $30 and has an average total cost of $26. Suppose that the firm's marginal cost curve is equal to its average total cost curve at an output level of 30 units. How much profit is earned by the firm at its current level of output?

• A) more than $120
• B) exactly $120
• C) less than $120
• D) none of the above

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Definitions:

Educational Remediation

A targeted instructional strategy meant to address and support the learning needs or deficits of students to help them reach expected competencies.

Emotional Intelligence

The ability to recognize, understand, manage, and reason with emotions in oneself and others.

Salovey and Mayer

Two psychologists who introduced the concept of emotional intelligence in 1990, proposing a model that emphasized the ability to monitor one’s own and others' feelings and emotions, to discriminate among them, and to use this information to guide one's thinking and actions.

Own and Other's Feelings

Own and Other's Feelings involves the ability to recognize, understand, and respond to one's own emotions as well as those of others, a key component of emotional intelligence.