A firm is currently operating where the MC of the last unit produced = $64, and the MR of this unit = $70. What would you advise this firm to do?
A. Shut down.
B. Increase output.
C. Stay at current output.
D. Decrease output.
Answer: B
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Refer to Figure 9-2. With the tariff in place, the United States produces
A) 9 million pounds of rice. B) 15 million pounds of rice. C) 31 million pounds of rice. D) 42 million pounds of rice.
Taxes are the difference between
a. GDP and net exports. b. GDP and consumer spending. c. Consumer spending and saving. d. GDP and disposable income.
The maximum price that consumers are willing to pay for the hundredth unit of a good can be found as...
What will be an ideal response?
Bangladesh has had success with:
A. clustering the textile industry. B. supporting export-led growth policy. C. supporting import substitution policy. D. clustering the fishing industry.