Place an X in Each Blank Below That Is Associated

question 5

Short Answer

Place an X in each blank below that is associated with a conclusion that would require the closed-world assumption in the context of a database that contained a list of subscribers to the New York Times.
_____ John Doe subscribes to the New York Times.
_____ John Doe does not subscribe to the New York Times.
_____ Either Mary Doe or John Doe does not subscribe to the New York Times.
_____ Either Mary Doe or John Doe subscribes to the New York Times.

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Definitions:

Profit-maximizing

The point at which a firm achieves the highest possible profit, where the marginal cost of production equals the marginal revenue from sales.

Total Revenue

The total receipts from sales of goods or services over a certain period of time before any expenses are subtracted.

Variable Input

An input in the production process that changes quantity with the level of output, such as labor or raw materials.

Marginal Revenue Product

The additional revenue generated from using one more unit of a factor of production, key in making decisions on resource allocation.