If the Short-Run Marginal Costs of Producing a Good Are

question 48

Multiple Choice

If the short-run marginal costs of producing a good are $40 for the first 200 units and $50 for each additional unit beyond 200, then in the short run, if the market price of output is $46, a profit-maximizing firm will

• A)produce a level of output where marginal revenue equals marginal costs.
• B)produce as much output as possible since there are constant returns to scale.
• C)produce up to the point where average costs equal $46.
• D)not produce at all, since marginal costs are increasing.
• E)produce exactly 200 units.

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Definitions:

Short Tandem Repeats

DNA sequences where a short sequence of bases is repeated, often used in genetic fingerprinting.

Taq Polymerase

An enzyme used in PCR (Polymerase Chain Reaction) to amplify DNA sequences, known for its ability to withstand high temperatures.

PCR

A laboratory technique used to amplify DNA sequences, making millions of copies of a specific DNA segment for analysis.

DNA Libraries

Collections of DNA fragments that are stored and maintained in a host organism and can be used for genetic research or engineering.