Table 11-4 Table 11-4 Lists Estimated Revenues and Costs (Per Week) for }
\end{array}

question 125

Multiple Choice

Table 11-4
$\begin{array}{|c|c|c|c|c|c|c|}\hline \begin{array}{c}\text { Quantity } \\\text { Sold }\end{array} & \text { Price } & \begin{array}{c}\text { Total } \\\text { Revenue }\end{array} & \begin{array}{c}\text { Marginal } \\\text { Revenue }\end{array} & \begin{array}{c}\text { Total } \\\text { Cost }\end{array} & \begin{array}{c}\text { Marginal } \\\text { Cost }\end{array} & \text { Profit } \\\hline 0 & \$ 10 & \$ 0 & \cdots &\$ 2& \ldots & -\$ 2 \\\hline 1 & 9 & 9 & & 82 & \\\hline 2 & 8 & 16 & & 13 & & \\\hline 3 & 7 & 21 & & 17 & & \\\hline 4 & 6 & 24 & & 20 & & \\\hline 5 & 5 & 25 & & 22 & & \\\hline 6 & 4 & 24 & & 26 & & \\\hline\end{array}$ Table 11-4 lists estimated revenues and costs (per week) for plastic vials (100 vials per box) for the Victoria Biological Supplies Company. Victoria sells plastic vials to universities and private research laboratories.
-Refer to Table 11-4.At Victoria's profit-maximizing output

• A) profit equals $2.
• B) total revenue equals $24 and total cost equals $20.
• C) total revenue equals $25 and total cost equals $22.
• D) total revenue equals $21 and total cost equals $17.

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Definitions:

ICT-enabled

Pertaining to activities or processes that are facilitated or improved through the use of Information and Communication Technologies.

Formal Economy

An economy that is taxed and monitored by the government and is included within a nation's gross national product; opposed to the informal economy.

Gig Economy

An economic sector consisting of temporary, flexible jobs often facilitated by digital platforms where companies operate with independent workers for short-term engagements.

Social Standing

The position or rank of a person or group within the hierarchical social structure of a society.