A multiplant firm has equated marginal costs at each plant. By doing this
A) profits are maximized.
B) costs are minimized given the level of output.
C) revenues are maximized given the level of output.
D) none of the above
B
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If an increase in the level of money supply leads to a proportionate increase in prices with no effect on real variables ,we say that
A) the Fisher relationship holds. B) money is neutral. C) money is superneutral. D) money is a medium of exchange.
Real income for a given year would be less than nominal income in that year if:
A. the consumer price index was less than 100 in that year. B. nominal income in that year was greater than nominal income in the previous year. C. nominal income in that year was less than nominal income in the previous year. D. the consumer price index was greater than 100 in that year.
A tie-in sale is when two firms merge together and are essentially tied together.
Answer the following statement true (T) or false (F)
When marginal cost is falling
A. marginal product is at a maximum. B. marginal product must be falling. C. marginal product is at a minimum. D. marginal product must be rising.