Table 16-3 This Table Shows the Demand Schedule,marginal Cost,and Average Total Cost

question 354

Multiple Choice

Table 16-3
This table shows the demand schedule,marginal cost,and average total cost for a monopolistically competitive firm.

-Refer to Table 16-3.What price will this firm charge to maximize profit?

• A) $6
• B) $7
• C) $8
• D) $9

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Definitions:

Flavor Aversion

The learned avoidance of a particular taste or food after it has been associated with illness or discomfort.

Humans

The species Homo sapiens, characterized by its use of language, complex social structures, and sophisticated tool use and technology.

Terminal Behavior

The behavior that just precedes reinforcement when an animal is reinforced on an interval schedule of reinforcement.

Reinforcement

is a process in psychology that strengthens or increases the likelihood of a behavior by providing a consequence that is rewarding or removing an unpleasant stimulus.