A Producer Refuses to Sell Some of One Joint Product

question 22

Multiple Choice

A producer refuses to sell some of one joint product.MR_A is the marginal revenue for a low-demand good.If the producer were to sell all its production,what would be true of MR_A?

• A) MR_A = demand for A.
• B) MR_A = 0.
• C) MR_A = marginal cost of A.
• D) MR_A < 0.
• E) MR_A = 1.

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Definitions:

Self-Actualization

The realization or fulfillment of one's talents and potentials, considered as a drive or need present in everyone.

Problem Solving

The process of identifying solutions to specific issues.

Maslow's Hierarchy

A theory of human motivation that suggests people are motivated to fulfill basic needs before moving on to other, more advanced needs, culminating in self-actualization.

Affiliation Motive

The drive to build and maintain positive interpersonal relationships and to be part of a group.