For a Certain Firm,the 100th Unit of Output That the Firm

question 76

Multiple Choice

For a certain firm,the 100th unit of output that the firm produces has a marginal revenue of $10 and a marginal cost of $11.It follows that the

• A) production of the 100th unit of output increases the firm's profit by $1.
• B) production of the 100th unit of output increases the firm's average total cost by $1.
• C) firm's profit-maximizing level of output is less than 100 units.
• D) production of the 110th unit of output must increase the firm's profit by less than $1.

Assess the role of marginal cost and marginal revenue in optimizing production levels.

Examine the factors influencing firm's short-run supply decisions.

Understand the equilibrium concept in a competitive market.

Calculate economic profit or loss based on given financial data of a firm.

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Definitions:

Conscious Awareness

The state or quality of being aware of an external object or something within oneself.

Mechanoreceptors

Mechanoreceptors are sensory receptors that respond to mechanical pressure or distortion, involved in processes like touch, hearing, and balance.

Pressure

The force applied perpendicular to the surface of an object per unit area over which that force is distributed.

Proprioception

The sense allowing a person to perceive the position and movement of their body parts without using sight, contributing to balance and coordination.