If a Perfectly Competitive Wheat Farmer Is Maximizing Its Profit

question 138

Multiple Choice

If a perfectly competitive wheat farmer is maximizing its profit and then increases its output,the farmer's

• A) total revenue increases, but total cost rises by more so that the farmer's total profit decreases.
• B) total revenue decreases and total cost increases, both thereby decreasing the farmer's total profit.
• C) total revenue does not change but total cost increases, thereby decreasing the farmer's total profit.
• D) marginal revenue increases, but so does marginal cost, so that the farmer's total profit increases.
• E) total revenue and total cost both rise, but the effect on the farmer's total profit is uncertain.

Describe the ROPES process in PR and recognize the critical steps throughout a PR campaign.

Understand the usage, advantages, and disadvantages of surveys in PR research.

Differentiate among commonsense theories, working theories, and scholarly theories.

Explain the benefits of using digital analytics in the research phase of a PR campaign.

---

Definitions:

Debilitating Disorder

A health condition that severely affects one's ability to perform everyday activities.

Generalization

Generalization is the process of deriving general principles from specific instances.

Observational Learning

The process of learning behaviors by watching and imitating others, a concept central to social learning theory.

Classical Conditioning

A method of learning that happens by linking an environmental stimulus with a naturally occurring stimulus.