Consider a Perfectly Competitive Firm in the Following Position: Output

question 70

Multiple Choice

Consider a perfectly competitive firm in the following position: output = 4000,market price = $1,total fixed costs = $2000,total variable costs = $4500,and marginal cost = $1.To maximize profits the firm should

• A)reduce its output.
• B)expand its output.
• C)produce zero output.
• D)increase the market price.
• E)not change its output.

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Definitions:

CVD

Cardiovascular Disease, a class of diseases that involve the heart or blood vessels.

Relative Risk

A measure used in epidemiology to compare the risk of a certain event occurring in one group with the risk of it occurring in another group.

Sunscreens

Products applied to the skin to protect it from the harmful effects of UV radiation.

Epidemiologic Study

Research investigating the patterns, causes, and effects of health and disease conditions in defined populations.