A firm will ________ at the output where marginal cost increases
A. begin to experience increasing returns
B. start to experience losses
C. begin to experience diminishing returns
D. become profitable
Answer: C
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All of the following are true regarding the Federal Trade Commission's (FTC) Bureau of Consumer Protection except which one?
A) It relies on consumers and competitors to report false advertising. B) It is a federal agency. C) It generally tries to convince companies to cease or alter false advertising. D) It cannot bring a civil case against a firm's managers for false advertising.
During the financial crisis of 2008-2010, the Fed
a. increased its purchases of securities and other financial assets and extended more loans, which expanded the monetary base. b. increased its purchases of securities and other financial assets and extended more loans, which reduced the monetary base. c. reduced its purchases of securities and other financial assets and extended fewer loans, which expanded the monetary base. d. reduced its purchases of securities and other financial assets and extended fewer loans, which caused the monetary base to decline.
Countries having comparative advantages based on land and in various natural resources are most likely to
A. experience rapid accumulation of capital. B. export products like gold, coffee, or cocoa. C. export manufactured goods. D. experience biased growth.
Suppose that Richard has just told you that he would not pay more than $100 dollars for one of his favorite baseball cards. You offer to give him $110 dollars for his card and he refuses. What consumer choice theory or effect explains this result?
A) the endowment effect B) bounded rationality C) bounded self-interest D) bounded will power