A Carnot Cycle

question 37

Multiple Choice

A Carnot cycle:

• A)is bounded by two isotherms and two adiabats on a p-V graph
• B)consists of two isothermal and two constant volume processes
• C)is any four sided process on a p-V graph
• D)only exists for an ideal gas
• E)has an efficiency equal to the enclosed area on a p-V diagram

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Definitions:

Marginal Cost

The cost of producing one additional unit of a product or service, which can inform decisions on how much to produce.

Producing Purse

The process involved in creating and manufacturing handbags.

Long-Run Average Total Cost

A curve that reflects the lowest cost at which a firm can produce any given level of output in the long term, when all inputs are variable.

Short-Run Average Cost Curves

Graphs that show how the average cost of production changes as the level of output is varied in the short term.