The Supply Curve of Any Firm Is S_i(p)= P/2

question 11

Multiple Choice

the supply curve of any firm is S_i(p) = p/2.If a firm produces 3 units of output, what are its total variable costs?

• A)$9
• B)$13.50
• C)$7
• D)$18
• E)There is not enough information given to determine total variable costs.

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Definitions:

Primacy Effect

The phenomenon in which individuals are more likely to remember and give greater importance to information that they encounter first, compared to information presented later.

Equally Qualified

A status where two or more individuals possess the same levels of skills, experience, and qualifications for a specific role or position.

Two-Sided Message

A communication technique that presents both the positive and negative attributes or arguments related to a particular issue, intended to create a more balanced and persuasive message.

One-Sided Message

A form of communication that presents only one perspective or aspect of an argument or situation, often used in persuasive settings to influence opinion or behavior without acknowledging counterarguments.