If a Firm Collects $80 in Revenues When It Sells

question 91

Multiple Choice

If a firm collects $80 in revenues when it sells 4 units,$100 in revenues when it sells 5 units,and $120 when it sells 6 units,one can infer the firm is more likely to be:

• A)a perfect competitor.
• B)a monopolistic competitor.
• C)an oligopolist.
• D)a monopolist.

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Definitions:

Economic

Pertaining to the production, distribution, and consumption of goods and services, as well as the management of financial resources in a community or society.

Managerial

Pertaining to the activities, responsibilities, and skills of managers in planning, organizing, leading, and controlling within an organization.

Technical

Relating to or involving the practical application of scientific knowledge, especially in industrial or mechanical fields.

Organizational

Pertaining to the structure, behavior, and dynamics of organizations, including businesses and institutions.