Table 101 Table 101 Shows the Short-Run Cost Data of a Perfectly Competitive

question 16

Multiple Choice

Table 10.1
$\begin{array}{|c|c|c|}\hline \text { Quantity } & \begin{array}{c}\text { Total Cost } \\\text { (dollars) }\end{array} & \begin{array}{c}\text { Variable Cost } \\\text { (dollars) }\end{array} \\\hline 0 & \$ 1,000 & \$ 0 \\\hline 100 & 1,360 & 360 \\\hline 200 & 1,560 & 560 \\\hline 300 & 1,960 & 960 \\\hline 400 & 2,760 & 1,760 \\\hline 500 & 4,000 & 3,000 \\\hline 600 & 5,800 & 4,800 \\\hline\end{array}$
Table 10.1 shows the short-run cost data of a perfectly competitive firm that produces plastic camera cases. Assume that output can only be increased in batches of 100 units.
-Refer to Table 10.1.If the market price of each camera case is $8, what is the firm's total revenue?

• A)$2,400
• B)$3,200
• C)$4000
• D)$4,800

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Definitions:

Self-Concept Clarity

The extent to which an individual's beliefs about themselves are clearly and confidently defined, internally consistent, and stable.

Agoraphobia

The fear of places or situations that might cause panic, helplessness, or embarrassment, often leading to avoidance behaviors.

Exposure Method

A technique used in therapy or research to gradually introduce individuals to a feared stimulus to reduce anxiety.

Effort Justification

A cognitive dissonance resolution strategy where individuals attribute a greater value to an outcome that required a significant effort to achieve.