If in a Market the Last Unit of Output Was

question 43

Multiple Choice

If in a market the last unit of output was sold at a price higher than marginal cost

• A)producer is better off producing more.
• B)consumers are better off if less of the product is sold.
• C)social welfare is not maximized.
• D)the unit increased total profit.

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Definitions:

Interpersonal Perception Process

The sequence of steps through which individuals make sense of the intentions, behaviors, and traits of others in social interactions.

Stages

refers to the distinct phases or periods that constitute a process of development or progression.

Subjective Self-Awareness

Ability to differentiate the self from the physical and social environment.

Objective Self-Awareness

Ability to be the object of one’s own thoughts and attention–to be aware of one’s state of mind and what one is thinking.