According to the marginal? principle, it is logical to
According to the marginal? principle, it is logical to
A.
choose a level at which marginal benefit exceeds marginal cost.
B.
increase the level of an activity as long as its marginal cost exceeds its marginal benefit.
C.
choose a level at which marginal cost exceeds marginal benefit.??
D.
increase the level of an activity as long as its marginal benefit exceeds its marginal cost.
D.
increase the level of an activity as long as its marginal benefit exceeds its marginal cost.
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You have just purchased 100 shares of the stock of Microsoft Corporation. This places you in the role of
A) principal. B) incentive system operator. C) agent. D) long-term contractor.
A public museum is an example of a
A) government-sponsored good. B) public good. C) good which generates a positive externality. D) good which generates a negative externality.
A profit-maximizing monopolist
a. is just as socially efficient as a perfectly competitive firm in allocating resources to production since she, too, seeks the largest return on his investment. b. produces an output level at which marginal utility exceeds marginal cost. c. produces more output than a perfectly competitive industry. d. always produces in the inelastic region of his demand curve.
Monopolistic competition will include producers of poultry and dairy products
a. True b. False Indicate whether the statement is true or false