Table 13-2 The Table Represents a Demand Curve Faced by a Firm

question 409

Multiple Choice

Table 13-2
The table represents a demand curve faced by a firm in a competitive market.

-Refer to Table 13-2.For a firm operating in a competitive market,the average revenue from selling 3 units is

• A) $12.
• B) $4.
• C) $3.
• D) $1.25.

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Definitions:

Passion

An intense positive emotion, which is usually related to entrepreneurs who are engaged in meaningful ventures, or tasks and activities, and which has the effect of motivating and stimulating entrepreneurs to overcome obstacles and remain focused on their goals.

Strong Ties

Deep, close relationships often characterized by trust, frequent interaction, and a strong sense of commitment.

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Devil's Advocate

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