Suppose Chris Is a Potter Who Makes Mugs If the Market for Mugs Is Perfectly Competitive, and Mugs

question 69

Multiple Choice

Suppose Chris is a potter who makes mugs. His total costs depend on the number of mugs he makes each day, as shown in the table below. $$\begin{array} { | c | c | } \hline \begin{array} { c } \text { Number of } \\\text { Mugs Per Day }\end{array} & \begin{array} { c } \text { Total Cost } \\\text { Per Day }\end{array} \\\hline 0 & \$ 10 \\\hline 1 & \$ 14 \\\hline 2 & \$ 19 \\\hline 3 & \$ 25 \\\hline 4 & \$ 32 \\\hline 5 & \$ 40 \\\hline 6 & \$ 49 \\\hline\end{array}$$ If the market for mugs is perfectly competitive, and mugs sell for $7.50 each, then Chris should make ______ mugs per day.

• A)0
• B)4
• C)5
• D)6

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Definitions:

Alfred Adler

An Austrian medical doctor and psychotherapist who is best known for his theories on the importance of feelings of inferiority and the development of lifestyle.

Inferiority Complex

A psychological condition where an individual feels a deep sense of incompetence, underachievement, or inadequacy, often leading to overcompensation in other areas.

Alfred Adler

An Austrian psychiatrist and founder of Individual Psychology, which emphasizes the importance of feelings of inferiority and the creative self in personality development.

Author Listing

The chronological or priority-based arrangement of authors' names on an academic paper or publication, often reflecting their contribution or seniority.