Marwan Understands That When a Ball of Clay Is Flattened

question 19

Multiple Choice

Marwan understands that when a ball of clay is flattened into a pancake shape that there's still the same amount of clay.He says,"you could just bunch up the clay into a ball again-it's still the same thing." He is exhibiting:

• A) conservation.
• B) identity.
• C) reversibility.
• D) all of the above

---

Definitions:

Marginal Revenue

The additional income from selling one more unit of a good; it is the change in total revenue that comes from selling an additional unit.

Long-run Supply Curve

A graphical representation that shows the relationship between the price of a good and the quantity supplied by producers over a longer period, when all inputs can be fully adjusted.

Break-even Point

The financial state at which total costs and total revenues are equal, indicating that a business or project is neither at a loss nor making a profit.

Shutdown Point

The price and output level at which a firm's revenue just covers its variable costs, below which it is better for the firm to temporarily cease operations.