Multiple Choice
The following diagram shows a firm facing a downward- sloping demand curve.
The diagram indicates that, at a price of £4, output should be
A) decreased.
B) permanently stopped.
C) temporarily stopped.
D) increased.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q4: Normal profit is not regarded as a
Q5: Tom and Barbara grow tomatoes for profit,
Q6: If marginal cost is currently above marginal
Q7: A firm is a price- taker and
Q8: If a price- taking firm is in
Q10: Explain the significance of normal profit and
Q11: What are average and marginal revenue? In
Q12: What do economists assume about a firm's
Q13: What could shift the average revenue curve
Q14: The higher the variable cost/total cost ratio,