If output is increased beyond the point where total profit is maximized,
A. marginal profit will be zero.
B. marginal profit will be negative.
C. marginal profit will be positive.
D. MR > MC.
Answer: B
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In contrast to the earlier neoclassical models of economic growth, in endogenous growth models, there is more emphasis on
a. human capital. b. externalities. c. increasing returns to scale. d. all of the above.
Dominant firms tend to lag in innovation because
A) of the sunk cost effect. B) entrepreneurs are found in smaller firms. C) they are usually focused on market share. D) all of these choices.
The Industrial Revolution refers to the period 1950–1970, which was characterized by rapid manufacturing-sector growth in the United States.
Answer the following statement true (T) or false (F)
The cutthroat competitor is on the opposite end of the competitive spectrum from the __________________.
Fill in the blank(s) with the appropriate word(s).