If a Firm in a Competitive Market Doubles Its Number

question 485

Multiple Choice

If a firm in a competitive market doubles its number of units sold, total revenue for the firm will

• A)more than double.
• B)double.
• C)increase but by less than double.
• D)may increase or decrease depending on the price elasticity of demand.

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Definitions:

Interest Inventory

A self-assessment tool that helps individuals identify their interests as part of career planning or personal development.

Forced-choice Format

A method of questioning that offers fixed choices between two or more alternatives.

Constructed Response

Constructed response is a type of assessment where individuals are required to generate their own answers to a question or a prompt, showcasing their understanding, reasoning, and ability to apply knowledge.

Psychosocial Development

A theory by Erik Erikson that human development is influenced by social interactions and unfolds in eight stages throughout life.