FIGURE EX 14-1 Based on Figure EX 14-1 Above

question 205

Multiple Choice

FIGURE EX 14-1 Based on Figure EX 14-1 above, the macro will apply the ____ format to a selected cell.

• A) center
• B) left-aligned
• C) bold
• D) right-aligned

---

Definitions:

Perfectly Competitive Firm

A perfectly competitive firm operates in a market where no single company can influence the price of its product, characterized by many sellers, homogeneous products, and free market entry and exit.

Horizontal Demand

A market situation where the demand curve is perfectly elastic, indicating that consumers are willing to purchase any quantity at a particular price.

Marginal Revenue

The additional income from selling one more unit of a good; sometimes equal to the price of the good.

Marginal Cost

The increase or decrease in the total cost that arises from producing one additional unit of a product or service.