If at Optimum Output of 1,000 Units, the Firm Is

question 117

Multiple Choice

If at optimum output of 1,000 units, the firm is incurring average variable cost per unit of $3, average fixed cost per unit of $1.50, and selling its output at $7 per unit, total profit is

• A)$7,000.
• B)$2,500.
• C)$1,500.
• D)$250.

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Definitions:

Authoritative

A parenting style characterized by high expectations of maturity, clear guidelines and rules, warmth, and responsiveness to children’s needs.

Authoritarian

A dictatorial approach focused on high demands and low responsiveness, often enforcing strict rules and expecting complete obedience.

Indulgent

Exhibiting leniency or a tendency to be overly generous in granting freedom or wishes to oneself or others.

Cultural Goal

Objectives, ideals, or outcomes that are valued and pursued by a community or society, shaping behaviors and norms.