Multiple Choice
After selling 1,000 three-ring binders, Tony DiFulvio realizes that the marginal revenue from selling the last binder was less than the marginal cost.From this we can conclude that
A) Tony's business earns a short-run economic profit.
B) Tony should shut down his business temporarily.
C) Tony's profit fell after selling his 1,000th three-ring binder.
D) Tony's profit would be greater if he sold an additional three-ring binder.
Correct Answer:
Verified
Correct Answer:
Verified
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