When a Competitive Firm Doubles the Amount of Output It

question 253

Multiple Choice

When a competitive firm doubles the amount of output it sells,its

• A) total revenue doubles.
• B) average revenue doubles.
• C) marginal revenue doubles.
• D) profits must increase.

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World Health Organization

An international body of the United Nations responsible for global public health, aiming to ensure the highest possible level of health for all people.

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Diseases caused by pathogenic microorganisms, such as bacteria, viruses, parasites or fungi; these diseases can be spread, directly or indirectly, from one person to another.

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Standards that guide the conduct of audits on the financial statements of companies, known as Generally Accepted Auditing Standards.

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An auditor’s opinion that states that deviations from generally accepted accounting principles are so serious that an unqualified opinion is impossible and a qualified opinion is not justified.