The Figure Given Below Shows the Revenue and the Cost

question 79

Multiple Choice

The figure given below shows the revenue and the cost curves of a perfectly competitive firm.Figure 10.3

-In Figure 10.3, the profit maximizing output of the firm is _____ units.

• A)4
• B)16
• C)11
• D)7
• E)14

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Definitions:

Exploit

To make use of something (usually resources) in a way that benefits one but may be considered unfair or unethical.

Cognitive Needs

Psychological requirements of a person for thinking, reasoning, and understanding, which drive the pursuit of knowledge and intellectual engagement.

Physiological Needs

The most basic human needs in Abraham Maslow's hierarchy, including air, water, food, shelter, and sleep, necessary for survival.

Safety and Security

The condition of being protected from or not exposed to danger, and the feeling of being safe and not likely to be endangered or harmed.