Answer the Question on the Basis of the Following Demand

question 123

Multiple Choice

Answer the question on the basis of the following demand and cost data for a specific firm. With the demand schedule shown by columns (2) and (3) , in long-run equilibrium

• A)price will equal average total cost.
• B)total cost will exceed total revenue.
• C)marginal cost will exceed price.
• D)price will equal marginal revenue.

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Definitions:

Parasympathetic

Part of the autonomic nervous system responsible for rest and digest functions, counterbalancing the fight-or-flight responses.

Nervous System

The network of nerve cells and fibers that transmits nerve impulses between parts of the body, enabling communication between the brain, spinal cord, and other areas.

Action Potential

A temporary reversal of the electrical polarization of the membrane of a nerve cell or muscle cell, primarily involved in the transmission of nerve impulses.

Hyperpolarization

A change in a cell's membrane potential that makes it more negative, moving it further from the threshold for electrical activity.