If a firm in a perfectly competitive market is producing at a level of output where marginal costs are less than marginal revenue, its profit:
A. must be positive.
B. are maximized.
C. will increase if it produces less.
D. will increase if it produces more.
D. will increase if it produces more.
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Which investment bank avoided bankruptcy by being purchased by JP Morgan Chase in March 2008?
A) Morgan Stanley B) Lehman Brothers C) Bear Stearns D) Merrill Lynch
The features of the U-Form of firm organization are
a. workers can easily develop a high degree of functional expertise b. it is difficult for employees to share information across positions within a division c. employee evaluation is hampered by managers having different skill sets than workers d. coordination across divisions is simple and does not take much management time
When choosing the production level for tomorrow you find that at an output of 100 units, the total variable costs are $20,000 and the average fixed cost is only $50 . If the market price is $200, you should:
a. b or e. b. shut down. c. produce more than 100 units. d. produce fewer than 100 units. e. produce where MC = MR.
Refer to the information provided in Figure 2.5 below to answer the question(s) that follow.
Figure 2.5Refer to Figure 2.5. The marginal rate of transformation in moving from Point B to Point A is
A. -2/3. B. -3/4. C. -1.5. D. -20.