A profit-maximizing business will increase production as long as
A. marginal revenue exceeds marginal cost.
B. marginal cost exceeds marginal revenue.
C. average product exceeds marginal price.
D. marginal price exceeds average product.
Answer: A
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The long-run growth of an economy depends on productive resources (land, labor, and capital) and on technological advances
a. True b. False Indicate whether the statement is true or false
Under a rule of reason approach, an act is illegal
a. only if it is shown to result in an anticompetitive outcome b. if two parties merge c. if a firm engages in price discrimination d. if two firms engage in price fixing e. if two firms undertake a joint venture
Which of the following topics is not a part of a typical scenario plan?
a. Expected changes in corporate governance practices. b. Expected changes in labor-management relations. c. Expected changes in government intervention and regulations. d. Expected changes in country infrastructure. e. Expected changes in budgets and capital budgeting projects.
The supply of loanable funds would shift to the right if either
a. tax reforms encouraged greater saving or the budget deficit became smaller. b. tax reforms encouraged greater saving or investment tax credits were increased. c. the budget deficit became larger or investment tax credits were increased. d. the budget deficit became larger or tax reforms discouraged saving.