The Table Given Below Shows the Total Revenue and Total

question 57

Multiple Choice

The table given below shows the total revenue and total cost of producing a commodity. Table 8.1

-In Table 8.1,marginal revenue exceeds marginal cost:

• A)until the fifth unit of output.
• B)until the sixth unit of output.
• C)up to the seventh unit of output.
• D)up to the eighth unit of output.
• E)at all units of output.

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Definitions:

Availability Heuristic

The tendency to assume that information that comes easily to mind (or is readily available) is more frequent or common.

Locus Of Causality

The position or place within an individual that determines where the cause of behavior is perceived to originate, whether internally (within oneself) or externally (outside factors).

Internal

Pertaining to or situated within something; intrinsic.

External

Originating from outside, not inherent or internal to an entity or individual.