Refer to the table below. If Fresh Laundry is currently producing 8 quality units, to maximize profit, Fresh Laundry should ________ the number of quality units as the current quality marginal revenue is ________ its marginal cost.
Fresh Laundry is a firm that produces laundry detergent. The table above summarizes Fresh Laundry's product quality marginal revenue and marginal cost at various quality levels.
A) increase; less than
B) maintain; greater than
C) increase; equal to
D) maintain; equal to
D) maintain; equal to
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If labor productivity increases
A) labor costs rise by equal increments. B) the demand for labor increases. C) some workers will be laid off. D) jobs will relocate.
One of the main conclusions of Keynes in The General Theory of Employment, Interest, and Money is that the economy
a. will usually be at full employment. b. will not automatically gravitate to full employment. c. will automatically move quickly toward full employment without inflation. d. is usually on the verge of a major depression or hyperinflation.
The own price elasticity of demand for apples is ?1.2. If the price of apples falls by 5 percent, what will happen to the quantity of apples demanded?
A. It will increase 6 percent. B. It will fall 4.3 percent. C. It will increase 5 percent. D. It will increase 4.2 percent.
If planned investment is ________ to changes in the interest rate, the planned investment schedule is vertical.
A. perfectly responsive B. negatively related C. positively related D. perfectly unresponsive