Suppose a Firm Produces 50,000 Units of Output, and Determines

question 2

Multiple Choice

Suppose a firm produces 50,000 units of output, and determines that its marginal cost is $0.72 and its average total cost is $0.72. At this quantity of output, what is the slope of this firm's long run average total cost curve?

• A)Upward-sloping.
• B)Downward-sloping.
• C)Horizontal.
• D)Vertical.

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Definitions:

James-Lange Theory

The James-Lange Theory proposes that emotion is the experience of physiological responses to external stimuli, suggesting that we feel sad because we cry, angry because we strike, and afraid because we tremble.

Two-Factor Theory

A psychological theory that proposes that human emotions are composed of two factors: physiological arousal and cognitive label.

Cannon-Bard Theory

A theory in psychology that suggests emotions and physiological responses such as heart rate increase occur simultaneously.

Guilty Knowledge Test

A psychological assessment used in criminal investigations that measures physiological responses to determine whether the subject knows details about a crime.