Akbar Is an Honors Student

question 30

Multiple Choice

Akbar is an honors student.In sociological terms,being an honors student is an example of

• A)role conflict.
• B)master status.
• C)ascribed status.
• D)achieved status.

---

Definitions:

Marginal Revenue

The gain in income associated with the sale of one extra unit of a good or service.

Price Searcher

A seller that has the ability to influence the price of its product due to lack of competition or the nature of the product.

Perfectly Elastic

refers to a market scenario where the quantity demanded or supplied changes infinitely with any change in price.

Marginal Cost

The increment in sum total cost that comes with the production of an additional single unit of a good or service.