Multiple Choice
Use the following diagram to answer the following questions.
-Refer to Diagram 5-1. If the firm were currently producing output level Q₁, we know that:
A) marginal revenue would exceed marginal cost.
B) marginal cost would exceed marginal revenue.
C) marginal revenue and marginal cost would be equal.
D) demand price and marginal revenue would be equal.
Correct Answer:
Verified
Correct Answer:
Verified
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