If output is increased beyond the point where total profit is maximized,
A. total profits stay constant.
B. total profits will decline.
C. marginal profit will be positive.
D. MR will be increasing.
Answer: B
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Which of the following is likely to happen if the government increases its expenditure?
A) Price level will fall. B) Investment will decrease. C) Unemployment will increase. D) Consumption will increase.
If a tax of $1 a can is imposed on the buyers of sugary drinks, the demand for sugary drinks ______ and the price that buyers pay ______
A. doesn't change; doesn't change B. doesn't change; rises by $1 a can C. decreases; rises by more than $1 a can D. decreases; rises by less than $1 a can
Which of the following is an example of a common resource?
A) elephants in the wild B) lions in a zoo C) public transportation D) a college education
One of the principal ways in which Congress intended the Fed to provide insurance against financial panics was to act as a "lender of first resort."
a. True b. False Indicate whether the statement is true or false