Mr. Rogers sells colored pencils. The colored-pencil industry is competitive. Mr. Rogers hires a business consultant to analyze his company's financial records. The consultant recommends that Mr. Rogers increase his production. The consultant must have concluded that Mr. Roger's
a. total revenues equal his total economic costs.
b. marginal revenue exceeds his total cost.
c. marginal revenue exceeds his marginal cost.
d. marginal cost exceeds his marginal revenue.
c
You might also like to view...
Economists assume that business firms have many goals, and profit maximization is just one of them
a. True b. False Indicate whether the statement is true or false
Direct taxes are levied on specific economic activities.
Answer the following statement true (T) or false (F)
The primary and secondary sources of income, on average, for U.S. adults aged 65 and over are
A. earnings from work and pensions, respectively. B. Social Security and earnings from work, respectively. C. individual retirement accounts and Social Security, respectively. D. pensions and individual retirement accounts, respectively.
The current account records foreign investment in the United States minus U.S. investment abroad
Indicate whether the statement is true or false