Scenario 9-1 Assume a Certain Competitive Price-Taker Firm Is Producing Q =

question 31

Multiple Choice

Scenario 9-1
Assume a certain competitive price-taker firm is producing Q = 1,000 units of output.At Q = 1,000,the firm's marginal cost equals $15 and its average total cost equals $11.The firm sells its output for $12 per unit.
-Refer to Scenario 9-1.To maximize its profit,the firm should

• A)increase its output.
• B)continue to produce 1,000 units.
• C)decrease its output,but continue to produce.
• D)shut down.

---

Definitions:

Social Cognitive Theory

A theory of learning and social behavior that emphasizes the importance of observing and modeling the behaviors, attitudes, and emotional reactions of others.

Gender-Appropriate Behavior

Refers to the behaviors and actions considered socially acceptable for individuals based on their gender.

Rewards And Punishments

Methods of behavioral modification which involve giving rewards to reinforce desired behaviors or applying punishments to discourage undesired behaviors.

Implicit Memory

The unconscious memory for perceptual and motor skills (e.g., riding a bicycle).