Assume that a firm's marginal revenue just barely exceeds marginal cost. Under these conditions the firm should:
a. expand output.
b. contract output.
c. maintain output.
d. There is insufficient information to answer the question.
a
You might also like to view...
The burden of debt is borne by future generations.
A. True B. False C. Uncertain
Answer the following statements true (T) or false (F)
1. Macroeconomics and microeconomics are concerned with the well-being of only people with jobs and high incomes; they just examine it from a different perspective. 2. Economies that are primarily market-oriented have fewer regulations. 3. The economics approach can be a useful way to analyze and understand the tradeoffs of economic decisions. 4. Economists use the term demand to refer to the amount of some good or service consumers are willing and able to purchase at each price. 5. Economists use the term supply to refer to the amount of some good or service a customer is willing to supply at each price.
If the central bank in some country raised the reserve requirement, then the money multiplier for that country
a. would increase. b. would not change. c. would decrease. d. could do any of the above.
The average income tax rate is:
a. income taxes divided by income. b. income divide by income taxes. c. the change in income taxes when income changes one dollar. d. the change in income when income taxes change one dollar.