If ABC Printing produces 100 calendars, and the MR of the 100th is $5 and the MC is $3, then the firm is
a. maximizing profit
b. producing too many calendars
c. making a $200 profit
d. making a $200 loss
e. producing too few calendars
E
You might also like to view...
The results of many empirical studies of short-run cost functions have shown that total costs conform to
A) a quadratic total cost function. B) a power cost function. C) a linear cost function. D) a cubic cost function.
The Federal Reserve System was founded in:
a. 1913. b. 1929. c. 1933. d. 1935.
Marginal utility is _____
a. always greater than total utility b. utility that is not as good as normal utility c. the extra utility derived from consuming one additional unit of a good or service d. always positive e. not related to total utility
The real wage is equal to the _____
Fill in the blank(s) with the appropriate word(s).