A Good Marketing Manager for a Producer Knows That the Most

question 161

Multiple Choice

A good marketing manager for a producer knows that the most profitable price and level of output:

• A) is where the positive difference between the total revenue and total cost curves is the greatest.
• B) is where the firm's profit is the same as that of its competitors.
• C) is where total revenue equals total cost.
• D) is where total profit equals total cost.
• E) None of these alternatives is correct.

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Definitions:

Food Deprivation

The condition of being prevented from accessing sufficient nutrients and calories needed for health and well-being.

External Locus

A belief that control over one's life events and outcomes resides primarily with external forces or circumstances.

Julian Rotter

A psychologist known for his work in social learning theory and the development of the concept of locus of control.

Locus of Control

A psychological concept that refers to people's beliefs about the extent of control they have over events in their lives.