Refer to the Figure Below

question 89

Multiple Choice

Refer to the figure below. If this firm is a price taker and the price of each unit of output is $15, then this firm should:

• A)produce 60 units of output.
• B)shut down in the short run.
• C)raise its price to increase its revenue.
• D)lower its output to decrease its marginal cost.

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Definitions:

Fatty Acids

Long hydrocarbon chains with a carboxylic acid group at one end; key components of lipids, they are important for energy storage and cellular membrane structure.

Bile

A digestive fluid produced by the liver and stored in the gallbladder, involved in the emulsification and absorption of fats in the small intestine.

Functions

The natural purpose or activities specific to a person, organ, system, or entity.

Liver

A vital organ in vertebrates responsible for detoxification, protein synthesis, and the production of biochemicals necessary for digestion, among other functions.