If a Competitive Firm Is Currently Producing a Level of Output

question 418

Multiple Choice

If a competitive firm is currently producing a level of output at which marginal revenue exceeds marginal cost, then

• A)a one-unit increase in output will increase the firm's profit.
• B)a one-unit decrease in output will increase the firm's profit.
• C)total revenue exceeds total cost.
• D)total cost exceeds total revenue.

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Definitions:

Salivary Glands

Exocrine glands located in the mouth that produce saliva, which aids in digestion and oral hygiene.

Parotid

The parotid glands are the largest of the salivary glands, located on the sides of the face, responsible for saliva production.

Submandibular

Pertaining to below the mandible (lower jaw), typically referring to glands or lymph nodes in that area.

Cluster Headaches

Extremely painful headaches that occur in patterns or clusters, typically around one eye.