Refer to the Two Diagrams for Individual Firms

question 228

Multiple Choice

Refer to the two diagrams for individual firms. In Figure 2, line B represents the firm's

• A)demand curve only.
• B)marginal cost curve only.
• C)marginal revenue curve only.
• D)total revenue curve only.

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Definitions:

Reversible

Capable of being turned back to the previous state or condition without causing permanent change or damage.

Figure-Ground Patterns

The organization of visual fields into objects (the figures) that stand out from their surroundings (the ground).

Contour

The outline or external form, shape, or boundary of an object.

Gestalt

A psychological approach emphasizing that the whole of anything is greater than its parts, focusing on patterns and context in perception.