Company a Manufactures a Single Automotive Component

question 57

Multiple Choice

Company A manufactures a single automotive component.It had total revenue of $100,000 and an economic profit of $20,000.What is the price of the component it manufactures?

• A)($100,000/quantity sold).
• B)($100,000/quantity produced).
• C)($100,000/quantity sold) − average cost of the product.
• D)($100,000/quantity produced) − average cost of the product.

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Definitions:

Milgram's Experiment

Stanley Milgram's social psychology experiments assessed how likely individuals were to follow orders from an authoritative figure, even when these orders went against their own moral beliefs.

Shock Series

A sequence of stressful or traumatic events experienced by an individual or a group, potentially leading to psychological impact.

Milgram Experiment

Experiments in social psychology led by Stanley Milgram investigated the extent to which individuals would comply with the instructions of an authority figure, despite these instructions contradicting their ethical principles.

Confederate

An individual who is part of an experiment and aware of its purpose but pretends to be a participant to manipulate situations as per the experimenter's design.