If a firm's marginal revenue is greater than its marginal cost, then:
a. each added unit of output will reduce profits.
b. the firm is maximizing profit.
c. an increase in output will add more to revenue than to cost.
d. an increase in output will add more to cost than to revenue.
e. a fall in output will add more to revenue than to cost.
c
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Indicate whether the statement is true or false
The decision by the federal government to prohibit cigarette companies from advertising on television actually caused the companies' profits to increase, an outcome that is consistent with the prediction of the prisoner's dilemma game
Indicate whether the statement is true or false
If the Federal Reserve conducts open market sales, the money supply ________, shifting the LM curve to the ________, everything else held constant
A) decreases; right B) decreases; left C) increases; right D) increases; left
Which of the following statements is true?
a. There is no single correct strategy for economic growth and development. b. In general, GDP per capita is highly correlated with alternative quality of life measures. c. The World Bank is affiliated with the United Nations and makes long-term low-interest loans to LDCs. d. All of these.