Table 14-1 This Table Shows the Revenue and Costs of a Parrot

question 159

Multiple Choice

Table 14-1
This table shows the revenue and costs of a parrot farmer.

-Refer to Table 14-1. If the farmer determines that marginal cost is $11, harvest of parrots should:

• A) increase production to maximise profit
• B) decrease production to maximise profit
• C) maintain its current level of production to maximise profit
• D) stop and the farmer produce a new product instead

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Definitions:

Multiply

The mathematical operation of increasing a number by another specified number of times, essentially repeated addition.

Multiply

To perform a mathematical operation where a number is added to itself a certain number of times, represented by the symbol \(*\).

Simplify

The process of altering an expression to make it easier to read or work with, typically by combining like terms and using algebraic properties.

Perform Operations

The process of carrying out mathematical computations such as addition, subtraction, multiplication, and division.