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

question 358

Multiple Choice

For a certain firm, the 100th unit of output that the firm produces has a marginal revenue of $7 and a marginal cost of $10. It follows that the

• A)production of the 100th unit of output increases the firm's profit by $3.
• B)production of the 100th unit of output increases the firm's average total cost by $7.
• C)firm's profit-maximizing level of output is less than 100 units.
• D)production of the101st unit of output must increase the firm's profit by more than $3.

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Definitions:

Cutting Edge Technology

Refers to the most advanced and innovative technology currently available, often leading the field in development and application.

Supply Chain

The entire network of entities, directly or indirectly interlinked and interdependent in serving the same consumer or customer, involving the supply and movement of goods.

Cash Flow

The total amount of money being transferred into and out of a business, crucial for understanding its liquidity, solvency, and financial health.

Information Flow

The movement or exchange of data, knowledge, and insights among people, processes, or systems within or across organizations.