Figure 7-7 Figure 7-7 Shows Cost and Demand Curves

question 233

Multiple Choice

Figure 7-7 Figure 7-7 shows cost and demand curves facing a profit-maximising, perfectly competitive firm.
-Refer to Figure 7-7.At price P₄,the firm would

• A) lose an amount equal to its fixed cost.
• B) make a profit.
• C) lose an amount less than fixed cost.
• D) make a normal profit.

Evaluate financial decisions involving special orders and use of idle capacity to increase profits.

Understand the ethical theories and approaches in decision making.

Identify the steps of a general framework for ethics.

Recognize ethical issues concerning privacy, property, and information technology.

---

Definitions:

Tongue

A muscular organ in the mouth of most vertebrates, involved in taste, swallowing, and speech.

Hepatic Lobules

The microscopic functional units of the liver, consisting of a hexagonal arrangement of liver cells (hepatocytes) centered around a central vein.

Macrophages

A type of phagocytic cell found in the liver, spleen, lungs, bone marrow, and connective tissue. Macrophages play several roles in humoral and cell-mediated immunity, including presenting the antigens to the lymphocytes involved in these defenses; also known as monocytes while in the bloodstream.

Hepatocytes

The cells within the lobules of the liver. Hepatocytes process nutrients in the blood and make bile.