Suppose That a Firm Operating in Perfectly Competitive Market Sells

question 59

Multiple Choice

Suppose that a firm operating in perfectly competitive market sells 100 units of output. Its total revenues from the sale are $500. Which of the following statements is correct? i) Marginal revenue equals $5.
Ii) Average revenue equals $5.
Iii) Price equals $5.

• A) i) only
• B) iii) only
• C) i) and ii) only
• D) i), ii), and iii)

Understand the concept of material culture and its significance in societal history.

Recognize ethnocentrism and its effects on cross-cultural understanding.

Distinguish between sociological and anthropological approaches to studying culture.

Learn the importance of cultural relativism in understanding diverse cultures.

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Definitions:

Chemicals Storage

The practice of safely keeping chemicals in appropriate conditions to prevent accidents and preserve their quality.

Respiratory Infections

Illnesses that affect the lungs and other parts of the respiratory system, caused by viruses, bacteria, or other pathogens.

Cilia

Microscopic, hair-like structures on the surface of cells that move in a wave-like pattern to transport substances across cellular surfaces or provide locomotion.

Flagella

Long, whip-like appendages that protrude from the cell body of certain cells, used by the cells to move or to sense changes in their environment.