Assuming there are no externalities, if a firm is producing at an output level where the benefits to consumers exceed the cost to the suppliers to produce it, then price
A. is less than marginal revenue.
B. is greater than marginal cost.
C. equals marginal cost.
D. is less than marginal cost.
Answer: B
You might also like to view...
The short-run average total cost curve eventually begins to increase at an increasing rate because of
A) economies of scale. B) the constraint that the firm cannot change production technologies. C) diminishing returns phenomena. D) increasing returns to scale.
Which of the following characterizes the IACs?
A. high per capita GDP growth and high population growth B. low per capita GDP growth and low population growth C. low per capital GDP growth and high savings rate D. low human capital investment
If the real interest rate in the United States increases, foreign investors will ________ their demand for U.S. dollars because they desire to ________ more U.S. financial assets
A) increase; buy B) increase; sell C) decrease; buy D) decrease; sell
Figure 33.2 illustrates Lorenz curves for four different economies. For which economy would lower-income families receive the largest share of total income?
A. A. B. B. C. C. D. D.