Solved

For a Certain Firm,the 100th Unit of Output That the Firm

Question 460

Multiple Choice

For a certain firm,the 100th unit of output that the firm produces has a marginal revenue of $10 and a marginal cost of $7.It follows that the


A) production of the 100th unit of output increases the firm's profit by $3.
B) production of the 100th unit of output increases the firm's average total cost by $7.
C) firm's profit-maximizing level of output is less than 100 units.
D) production of the 99th unit of output must increase the firm's profit by less than $3.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions