Figure 10-3 ​

question 124

Multiple Choice

Figure 10-3
​
-A perfectly competitive firm should continue to expand output until

• A)total revenue exceeds total costs.
• B)total revenue exceeds variable costs.
• C)marginal revenue equals marginal costs.
• D)average revenue equals variable costs.

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Definitions:

Overextensions

A linguistic phenomenon in early language development whereby children use words in an overly general manner.

Mental Age

Mental age is a measure of an individual's mental aptitude based on their performance on a standardized test, compared to the average performance of others in their age group.

Intelligence Quotient

is a measure of a person's cognitive abilities in relation to others, typically assessed through standardized tests that evaluate various aspects of intelligence.

Chronological Age

The actual age of an individual measured in years from the date of birth.