Table 9-2 Table 9-2 Lists the Various Pounds (Lbs

question 239

Multiple Choice

Table 9-2
$\begin{array}{|c|c|c|c|c|}\hline\begin{array}{c}\text { Apples } \\\text { (pounds) }\end{array} & \begin{array}{c}\text { MarketPrice } \\\text { per Pound }\end{array} & \begin{array}{c}\text { Total } \\\text { Revenue } \\(\text { TR) }\end{array} & \begin{array}{c}\text { Average } \\\text { Revenue } \\\text { (AR) }\end{array} & \begin{array}{c}\text { Marginal } \\\text { Revenue } \\\text { (MIR) }\end{array} \\\hline 0 & \$ 3 & \$ 0 & \cdots& \cdots \\\hline 100 & & & & \\\hline 150 & & & & \\\hline 200 & & & & \\\hline 250 & & & & \\\hline 300 & & & & \\\hline 350 & & & & \\\hline 400 & & & & \\\hline\end{array}$ Table 9-2 lists the various pounds (lbs.) of apples that Margie Stattler can sell. Assume that Margie operates in a perfectly competitive market.
-Refer to Table 9-2.How many pounds of apples should Margie sell to maximize her profit?

• A) 300 pounds
• B) 400 pounds
• C) This cannot be determined without knowing Margie's total or marginal production costs.
• D) This can be determined only when all of the values for market price, total revenue, average revenue and marginal revenue are given.

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Definitions:

Personality Change

The alteration or development in an individual's personality attributes over time, potentially due to experiences or circumstances.

Collective Unconscious

A concept introduced by Carl Jung that describes the segment of the subconscious mind originating from inherited memories and experiences shared across the human race.

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The process of developing the organized pattern of behaviors and attitudes that makes a person distinctive, which occurs through the interaction of inherited traits, environment, and experiences.

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