Swim Club Advocate Laticia Featherly Has Been Asked to Testify

question 152

Multiple Choice

Swim Club advocate Laticia Featherly has been asked to testify at the local school board meeting next week in support of continuing her club's partnership with the board to provide extracurricular recreational activities for students.The board has indicated that she can have up to 10 minutes to make her case.In preparing her speech,what should she remember to do?

• A)plan for her presentation to last about 15 minutes, because it is better to have too much material than to have too little
• B)limit her presentation to three or four key points, so they will be memorable to the listeners
• C)provide as many key points as possible in 10 minutes, because one of those points may resonate with one or more board members
• D)maintain steady eye contact with the chairperson of the school board

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Definitions:

MC = MR

This refers to the condition where a firm's marginal cost (MC) is equal to its marginal revenue (MR), often used to determine the profit-maximizing level of output in microeconomic theory.

Perfect Competitor

A theoretical market structure where many firms sell an identical product, entry and exit are easy, and no single firm can influence the market price.

Economic Loss

A loss in financial terms representing the difference between the market value and the cost of production.

Perfect Competitor

A market participant that cannot influence the market price and must take it as given because the market is perfectly competitive.