Multiple Choice
If marginal revenue and marginal cost are not equal, profit can be maximized by
A) increasing output if MR > MC.
B) decreasing output if MC > MR.
C) moving to the output where the slopes of TR and TC are equal.
D) All of the above are correct.
Correct Answer:
Verified
Correct Answer:
Verified
Q7: When a firm's fixed cost rises, its
Q14: A firm can choose a quantity of
Q22: For any firm, price always equals<br>A)average revenue.<br>B)marginal
Q25: A firm that is earning zero economic
Q100: The demand curve facing a firm is
Q102: Explain whether a firm's decisions are optimal
Q127: Figure 8-3 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB8592/.jpg" alt="Figure 8-3
Q142: "Satisficing" rather than "maximizing" primarily emerges under
Q149: Suppose that on a Saturday night at
Q196: Accounting profit is usually smaller than economic