-In the Above Figure, the Marginal Cost of the Last

question 47

Multiple Choice

-In the above figure, the marginal cost of the last unit produced by the profit maximizing firm is

• A) $5.
• B) $10.
• C) $15.
• D) $20.

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Definitions:

Duty of Care

A legal obligation to adhere to a standard of reasonable care while performing acts that could foreseeably harm others.

Negligent Credentialing

A legal theory that holds employers or institutions liable for failing to verify the qualifications or competencies of a professional they hire.

Ostensible Authority

The appearance or implication of authority given to an agent by the actions or statements of the principal, leading third parties to believe the agent has such authority.

Faulty Design

A defect in the planning or engineering of a product, making it unsafe or unsuitable for its intended purpose.