Suppose That at 500 Units of Output, Marginal Revenue Is

question 143

Multiple Choice

Suppose that at 500 units of output, marginal revenue is equal to marginal cost. The firm is selling its output at $5 per unit, and average total cost at 500 units of output is $6. On the basis of this information, we

• A) can say that the firm should close down in the short run.
• B) can say that the firm can produce and realize an economic profit in the short run.
• C) cannot determine whether the firm should produce or shut down in the short run.
• D) can assume the firm is not using the most efficient technology.

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Definitions:

Moral Decisions

Choices made by individuals that involve considerations of right and wrong or ethical principles.

Internalized Homophobia

The acceptance by LGBT individuals of negative societal attitudes or prejudices against homosexuality, leading to self-hatred or denial of one's sexual orientation.

Religious Family

A family that adheres to and practices specific religious beliefs and rituals, often passing these traditions to the next generation.

Sexually Healthy

Pertaining to a state where an individual has a positive and respectful approach to sexuality and sexual relationships, free from disease and coercion.