Classes ________ (I

question 1

Multiple Choice

Classes ________ (i.e., wrap) attributes and methods into objects—an object’s attributes and methods are intimately related.

• A) encumber.
• B) enclose.
• C) encapsulate.
• D) envelop.

Analyze the effects of marginal cost changes on monopolist's output and pricing decisions.

Understand how monopolists determine the profit-maximizing level of output and price.

Identify scenarios in which monopolists experience economic profits or losses.

Understand the relationship between average total cost, marginal cost, and the pricing strategies of a monopolist.

---

Definitions:

Taxes

Mandatory financial charges or other levies imposed by a government on individuals or businesses to fund public expenditure.

Private Funders

Individuals or entities that provide financial support for projects, research, or organizations without government assistance, often motivated by philanthropic or investment goals.

Feasibility Criteria

The standards used to assess the practicality and likelihood of successfully implementing a project or solution.

Political and Administrative

Pertaining to the activities, strategies, and operations that govern a nation or organization and the conduct of its administration.