For a Certain Firm, the 100th Unit of Output That

question 44

Multiple Choice

For a certain firm, the 100th unit of output that the firm produces has marginal revenue equal to $10 and a marginal cost of $7. It follows that

• A) the production of the 100th unit of output increases the firm's profit by $3.
• B) the production of the 100th unit of output increases the firm's average total cost by $7.
• C) the firm's profit-maximizing level of output is less than 100 units.
• D) the production of the 110th unit of output must increase the firm's profit by less than $3.

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Definitions:

Attachment Style

Patterns of expectations, needs, emotions, and social behaviors that result from the internal working models of self and others in close relationships.

Maintaining Relationships

Maintaining relationships involves ongoing efforts and strategies to sustain and enhance interpersonal connections, emphasizing communication, trust, and mutual support.

Need For Power

Is an individual’s desire for influence or control over others, which can drive behavior and motivate actions in both personal and professional contexts.

Exercising Authority

The act of using power or control that has been granted to an individual or entity, often in a leadership or managerial context.