Refer to the information provided in Figure 9.2 below to answer the question(s) that follow.
Figure 9.2Refer to Figure 9.2. If MR = $5, then a profit-maximizing firm will produce ________ units and earn ________.
A. 0; negative profits
B. 12; positive profits
C. 10; negative profits
D. 5; zero profits
Answer: A
You might also like to view...
When a country imports a good, the ________ to consumers is ________ the ________ to producers
A) loss; smaller than; gain B) loss; larger than; gain C) gain; smaller than; loss D) gain; equal to; loss E) gain; larger than; loss
The belief that the ethically proper thing to do in any situation is the thing that maximizes society's overall happiness and minimizes society's overall suffering is called
A) utilitarianism. B) diminishing marginal utility. C) the benefits-received principle. D) transcendentalism.
If a product's price increases, then its:
a. MP will increase. b. MFC will increase. c. MRP will increase. d. MP will decrease.
Real GDP will increase
a. only when prices increase. b. only when output increases. c. when prices increase or output increases. d. All of the above are correct.