Which of the following rules is most consistent with profit maximization?
a. expand output when MR < MC
b. reduce output when MR > MC
c. expand output when TR > TC
d. reduce output when TR > TC
e. expand output when MR > MC
E
You might also like to view...
The market value of a particular bond at any given point in time is called the bond's:
A. principal B. coupon rate. C. term. D. price
If a technological advance takes place in the computer industry, then the equilibrium price of a computer will ________ and the equilibrium quantity will ________
A) fall; increase B) fall; decrease C) rise; increase D) rise; decrease
The benefits to a program are more difficult to quantify in dollar terms that the costs to a program
a. True b. False
Discuss why the World Bank has been criticized for making loans to nations that can attract private funds
What will be an ideal response?