A Perfectly Competitive Firm Produces 3,000 Units of a Good

question 93

Multiple Choice

A perfectly competitive firm produces 3,000 units of a good at a total cost of $36,000.The price of each good is $10.Calculate the firm's short-run profit or loss.

• A)loss of $6,000
• B)profit of $6,000
• C)profit of $30,000
• D)There is insufficient information to answer the question.

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Definitions:

Skin, Muscles, and Joints

The bodily structures that respectively protect the body, facilitate movement, and connect bones, playing crucial roles in the human body's functionality.

Corpus Callosum

The corpus callosum is a large band of nerve fibers that connects the left and right hemispheres of the brain, facilitating interhemispheric communication.

Split-Brain Procedure

A surgical operation that involves cutting the corpus callosum, aiming to reduce severe epileptic seizures but resulting in the separation of the brain's hemispheres.

Parietal Lobes

Regions of the brain located behind the frontal lobes, involved in processing sensory information from the body, and are crucial for spatial orientation and navigation.