If, for the Last Unit of a Good Produced by a Perfectly

question 112

Multiple Choice

If, for the last unit of a good produced by a perfectly competitive firm, MR > MC, then in producing it, the firm

• A)added more to total costs than it added to total revenue.
• B)added more to total revenue than it added to total cost.
• C)is maximising marginal profit.
• D)has minimised its losses.

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Definitions:

British Policy Of Impressment

The practice by the British Navy of seizing American sailors and forcing them into military service, a contributing cause of the War of 1812.

U.S. Citizenship

The status of being a legally recognized subject or national of the United States, with specific rights, duties, and benefits.

Declaration Of War Against Great Britain

An official statement or action by which a country announces its intention to engage in warfare with Great Britain, historically significant during the American Revolutionary War.

Land Victory

A military or strategic triumph achieved on land, typically in the context of a battle or war.