The Figure Given Below Shows the Revenue and Cost Curves

question 49

Multiple Choice

The figure given below shows the revenue and cost curves of a perfectly competitive firm. Figure 9.5
MC: Marginal cost curve
MR: Marginal revenue curve.
ATC: Average-total-cost curve
AVC: Average-variable-cost curve
-According to Figure 9.5,the firm has:

• A)profits equal to the area AP₁EF.
• B)profits equal to the area P₁BDE.
• C)losses equal to the area 0AFQ₁.
• D)losses equal to the area P₁BDE.
• E)no profit no loss.

---

Definitions:

Local Benefits

Local Benefits refer to services or provisions provided by local government to residents, often financed through targeted taxes or assessments, like improvements that increase property values.

Kirkpatrick

A model for evaluating the effectiveness of training divided into four levels: reaction, learning, behavior, and results.

Locke's Research

An investigation into goal setting and motivation by Edwin Locke, emphasizing the importance of setting specific and challenging goals.

Charismatic Leadership

A leadership style characterized by the leader's ability to inspire and motivate followers through their personality, communication, and actions.