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:

Mindfulness

A mental state achieved by focusing one’s awareness on the present moment, while calmly acknowledging and accepting one's feelings, thoughts, and bodily sensations.

Present Moment

Focuses on the current point in time, emphasizing awareness and mindfulness of one's thoughts, feelings, and surroundings without distraction from past or future concerns.

Cognitive Theorists

Psychologists who study how our thought processes influence behavior and emotions, focusing on learning, memory, perception, and decision-making.

Etiology

The study of the causes or origins of diseases or disorders, examining how and why they develop.