Multiple Choice
If a competitive price-taker firm is currently producing a level of output at which marginal revenue exceeds marginal cost, then
A) a one-unit increase in output will increase the firm's profit.
B) a one-unit decrease in output will increase the firm's profit.
C) total revenue exceeds total cost.
D) total cost exceeds total revenue.
Correct Answer:
Verified
Correct Answer:
Verified
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