Marcus Is Talking on the Phone to His Mother About

question 12

Multiple Choice

Marcus is talking on the phone to his mother about what he should buy at the grocery store when a garbage truck drives past him.As a result,he is unable to hear what his mom is saying for 3 or 4 seconds.Which of the following is LEAST likely to help him figure out what his mother said?

• A)previous knowledge of his mother's opinions and beliefs
• B)his memory for the beginning of the sentence she was speaking when cut off
• C)knowing the conversation was about grocery shopping
• D)categorical perception

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Definitions:

Average Revenue

The revenue a firm receives per unit of output sold, calculated by dividing total revenue by the quantity of output.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded, holding other factors constant.

Total Revenue

The total receipts or income a firm receives from the sale of its products or services, calculated as the unit price times the quantity sold.

Average Revenue

The amount of income that a company receives per unit of sale, calculated by dividing total revenue by the number of units sold.