Multiple Choice
If marginal revenue is less than marginal costs
A) production should be decreased.
B) production should be decreased and profits will grow.
C) production should be decreased and losses will decrease.
D) all of these choices are possible.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: Perfect competition<br>A)has many sellers.<br>B)homogenous products.<br>C)free entry and
Q2: In an oligopoly<br>A)there are many firms.<br>B)there is
Q4: The market demand curve is _ and
Q5: Over the long run, monopolies can earn<br>A)economic
Q7: For a competitive firm<br>A)price is equal to
Q8: In a monopoly, producer surplus is<br>A)larger than
Q9: Entry causes _ to increase and a
Q10: Monopolies exist due to<br>A)patents.<br>B)government franchises.<br>C)cost factors.<br>D)all of
Q11: In a monopoly, consumer surplus is<br>A)larger than
Q18: Entry into a competitive market will continue