The Table Given Below Reports the Marginal Revenue and Marginal

question 112

Multiple Choice

The table given below reports the marginal revenue and marginal cost of Holmes Detective Agency for each client.Table 9.2

-Suppose that ABC Industries, a perfectly competitive firm, currently produces 500 units of imitation ham spread for a total cost of $1,500. The marginal cost of the 500th unit is $20, and the marginal revenue of the 500th unit is $15. To maximize profits, Cheapo Industries should:

• A)continue to produce 500 units.
• B)produce more than 500 units but less than 1500 units.
• C)produce less than 500 units.
• D)produce more than 1500 units.
• E)stop producing at 500 units.

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Definitions:

Pointing Device

A hardware input device, such as a mouse or trackpad, used to interact with and navigate a computer interface.

Jacquard Loom

An early mechanical loom invented by Joseph Marie Jacquard, which used punched cards to control the weaving of intricate patterns in fabric.

Mechanical Switches

Devices that open or close circuits to control the flow of electricity, often used in keyboards and other mechanical devices.

Portable

Characteristic of a device or software that can be easily carried or moved, especially devices that can operate independently of a fixed power source.