In the above figure, by increasing its output from Q2 to Q3, the firm
A) reduces its marginal revenue.
B) increases its marginal revenue.
C) decreases its profit.
D) increases its profit.
C
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Which of the following does NOT explain why developing countries encouraged new manufacturing industries of their own in the mid 20th century?
A) They were cut off from traditional suppliers of manufactures during WWII. B) Former colonial areas had something to prove; they wanted to attain the same income levels as their former rulers. C) Leaders of these countries feared that their efforts to escape poverty would be doomed if they continues to specialize in primary commodity exports. D) There was political pressure to protect these industries. E) Developing countries ran out of the natural resources that traditionally made up the majority of their trade.
A sustained decrease in the price level is known as
A) inflation. B) disinflation. C) reflation. D) deflation.
The optimal level of military expenditures is the level at which _____
a. a country is completely protected from foreign invasion b. a country spends more on national defense than all other countries along it to win an arms race c. a country spends more on national than its rivals d. the marginal benefit of additional expenditures equals marginal cost
Barriers to immigration are much higher in most countries today, than it was in the twentieth century
a. True b. False Indicate whether the statement is true or false