A firm should increase production if its current level of production is characterized by MR >MC.
a. true
b. false
Answer: a. true
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Refer to the table below. What is the profit-maximizing price for Gorgeous Sands Resort to charge during the off-peak period?
The table above summarizes Gorgeous Sands Resort's marginal capacity cost, marginal operating cost, peak marginal revenue, off-peak marginal revenue, and its peak and off-peak demand for its resort units.
A) $2,500 B) $1,750 C) $2,000 D) $1,250
Which of the expressions below best describes the aim of economic theory?
A) to predict how people think about money B) to understand why money motivates some people more than others C) to predict the choices people will make D) to learn what we can do to prevent people from having unrealistic wants
Industrial unions in the United States formed a national organization known as
a. the National Union b. the Knights of Labor c. the American Federation of Labor (AFL) d. the Congress of Industrial Organizations (CIO) e. the AFL-CIO
Your company is considering a project that costs $1,000 up front. It generates a revenue stream of $250 a year for four years. The present value of this project is approximately
a. $0.00 b. $790.46 c. $-209.54 d. It cannot be determined with the information given.