The Following Graph Shows the Demand and Cost Curves of an Imperfectly

question 12

Multiple Choice

The following graph shows the demand and cost curves of an imperfectly competitive firm.MC and ATC represent the marginal cost curve and the average cost curve respectively. Figure 22.1 In Table 22.1, in order to maximize profits, the firm should increase output until the ____ unit of output.

• A)fifth
• B)sixth
• C)seventh
• D)eighth
• E)ninth

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Definitions:

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Proactive Interference

A phenomenon in memory where older information prevents the recall of newer information, making it harder to remember recent events or learn new tasks.

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The mental state of being fully present and aware of one's thoughts, feelings, and environment, often requiring focused attention.

Positive Transfer

The beneficial effect of past learning on the acquisition of new skills or knowledge, where previous experiences facilitate performance on a new task.