1 3 2 3 1 4 2 4 3 1

question 163

Multiple Choice

1 3 2 3 1 4 2 4 3 1
Using the number string above, replace every 1 with the letter E, every 2 with the letter F, every 3 with the letter G, and every 4 with the letter O. For letters that appear more than twice, delete the first instance of those letters. Delete the last two letters in the string, and replace the vowels with the letter Y.
Which of the following letter strings corresponds with the letters above?

• A)F F Y Y G G
• B)F Y G Y F G
• C)F G Y Y F Y
• D)F G Y F G Y

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Definitions:

MR = MC

An economic principle stating that optimal production level is reached when marginal revenue equals marginal cost.

Marginal Cost

The cost required to produce a subsequent unit of a product or service.

Marginal Cost Curve

A graphical representation showing how the cost of producing one additional unit of a good changes as production volume changes.

Short-run Supply

The total quantity of goods or services that producers are willing and able to sell at a given price in a short period.