The Following Data Confront a Business -A Perfectly Competitive Business Reaches a Breakeven Point Where:
A)marginal

question 47

Multiple Choice

The following data confront a business:

$\begin{array}{cc}\text { Output }&\text { Marginal Revenue } &\text { Marginal Cost } \\0&16 & 10 \\2&16 & 9 \\3&16 & 13 \\4&16 & 15 \\5&16 & 21\\6\end{array}$
-A perfectly competitive business reaches a breakeven point where:

• A)marginal cost intersects the average variable cost curve
• B)total revenue equals variable cost
• C)normal profits are zero
• D)price equals minimum average cost
• E)marginal cost is at a minimum

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Definitions:

Preconventional Morality

Preconventional morality is the first level in Kohlberg's theory of moral development, where moral reasoning is based primarily on consequences and personal gain rather than societal rules or laws.

Conventional Morality

A stage in Kohlberg's theory of moral development where individuals' moral reasoning is based on societal laws and norms, and the approval of others.

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