Marginal Analysis Is Useful to a Firm That Seeks to

question 62

Multiple Choice

Marginal analysis is useful to a firm that seeks to

• A)maximize its profits,but not minimize its losses.
• B)minimize its losses,but not maximize its profits.
• C)both maximize its profits and minimize its losses.
• D)neither maximize its profits nor minimize its losses.

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Definitions:

Phi Phenomenon

The optical illusion of perceiving continuous motion between separate objects viewed rapidly in succession.

Implicit Memory Effect

A phenomenon where previous experiences aid the performance of a task without conscious awareness of these previous experiences.

Sequestering Effect

The process of removing or isolating a chemical or substance from the environment, often used in carbon capture to reduce atmospheric CO2.

Serial Position Effect

A cognitive phenomenon whereby items at the beginning and end of a list are remembered more easily and accurately than those in the middle.