The Figure Given Below Shows the Demand Curves of Two

question 8

Multiple Choice

The figure given below shows the demand curves of two classes of buyers, for tickets to a football match.Figure 11.4
D₁: Demand curve of group 1
D₂: Demand curve of group 2
MR₁: Marginal revenue of group 1
MR₂: Marginal revenue of group 2
MC: Marginal cost
-The perfectly competitive market structure results in economic efficiency because:

• A)price is equal to marginal revenue in the short run.
• B)firms are producing at the minimum point of the average-total-cost curve in the short run.
• C)a normal profit is being earned in the long run.
• D)a normal profit is being earned in the short run.
• E)in the long-run, price is equal to marginal cost and minimum average-total-cost.

Learn the ethical implications of communication within a professional setting.

Understand the different directions of organizational communication (upward, downward, lateral, diagonal).

Distinguish between situations suitable for oral vs. written communication.

Recognize the importance and methods of feedback in effective communication.

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Definitions:

Underground Aquifers

Natural underground reservoirs that store water, sourced from rain or melting snow that seeps through soil and rocks.

Excessive Rainfall

An unusually high amount of precipitation over a period of time, potentially leading to flooding and other water-related issues.

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Regions in the ocean designated for fishing activities, often defined by environmental conditions or regulatory boundaries.

Biodiversity

The variety and variability of life on Earth, including species diversity, ecosystem diversity, and genetic diversity.