The Graph Below Shows the Chamberlin Model

question 24

Multiple Choice

The graph below shows the Chamberlin model. At the profit maximizing price and output the firm is making

• A)positive economic profit.
• B)negative economic profit.
• C)zero economic profit.
• D)it is impossible to tell from the information given.

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Definitions:

Cloaca

In early embryos, the endodermally lined chamber into which the hindgut and allantois empty.

Coelom

The fluid-filled cavity within the body of most multicellular animals, surrounded by a mesothelium, that houses and protects internal organs.

Allantois

An embryonic membrane involved in the early fluid exchange between the embryo and the yolk sac.

Hindgut

The posterior part of the alimentary canal in some animals, including the distal colon and rectum in humans.