If at its current production level, a dominant firm's marginal cost is $5.50 and its residual marginal revenue is $5.50, which of the following statements is true?
A) It should decrease production to maximize profit.
B) It should increase production to maximize profit.
C) It should cut production in half to maximize profit.
D) It is maximizing profit.
D) It is maximizing profit.
You might also like to view...
The act of grooming oneself is termed:
A. autogrooming B. allogrooming C. ego-grooming D. self-grooming
Who in the 1950's corrected the errors of the past in the reconstruction of the La Chapelle-aux-Saints skeleton?
A) Lewis Binford B) Marcellin Boule C) Leslie Aiello D) W. Strauss and A. Cave E) Donald Johanson
Which of the following sites is NOT included in the probable range of H. erectus?
A. Java B. China C. South Africa D. Alaska E. the country of Georgia
A kente cloth is a symbol of royalty among the Kayapo of Brazil
Indicate whether the statement is true or false.