The Table Given Below Shows the Price of Each Unit

question 61

Multiple Choice

The table given below shows the price of each unit of the product manufactured by a firm and the marginal cost of producing different units of the output. Table: 9.1

- According to the information in Table 9.1,the marginal revenue of the firm:

• A)is equal to the marginal cost at each level of output.
• B)is equal to price times output.
• C)is equal to price times marginal cost.
• D)is equal to $1 at all levels of the output.
• E)decreases with an increase in output.

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Definitions:

Cross-sequential

A research method that combines both cross-sectional and longitudinal designs to study changes over time in a faster and more efficient manner.

Successive Cohort

Groups of individuals born in consecutive chronological segments, often studied to observe changes over time in a particular population.

Spatial Orientation

The ability to recognize and navigate the position and direction of oneself and objects in space.

Verbal Memory

The ability to remember and recall words and other verbal items; a component of cognitive functioning related to the processing and use of language.