Management Gets Two Numbers (Price and Quantity) from One Decision

question 179

Multiple Choice

Management gets two numbers (price and quantity) from one decision because

• A)the marginal utility of goods is fixed.
• B)producers use both technical and financial information.
• C)the demand curve consists of price and quantity pairs.
• D)the average cost curve has only one low point.

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Definitions:

Quantifier

A symbol or word used in logic to express the quantity of specimens that a proposition pertains to, such as "all", "some", or "none".

Atomic Open Sentence

In logic, an open sentence containing no quantifiers or connectives, which may become a proposition when variables are substituted.

Compound

A substance formed from two or more elements chemically united in fixed proportions; or, in a linguistic context, a term made up of two or more words functioning as a single unit.

Atomic

Constituting an undivided whole; elementary, with reference to particles or concepts.