If a firm's total cost rises as output rises, then
a. marginal cost is positive
b. profit cannot be maximized
c. total cost is minimized
d. marginal cost equals marginal revenue
e. the firm should shut down in the short run
A
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Differences in growth rates cannot explain why
A. some countries are wealthier than others. B. income inequality exists. C. the convergence hypothesis may hold. D. the productivity growth rates in China and Japan are converging.
A government balanced budget is
A) an excess of government spending over government revenues during a given time period. B) a situation in which the government's spending is exactly equal to the total taxes and other revenues it collects during a given time period. C) the total value of all outstanding federal government securities. D) all federal government debt irrespective of who owns it.
Historically, which of the following has had the highest average annual rate of return?
A) U.S. Treasury bonds B) corporate bonds C) money market mutual funds D) corporate stocks
Why do economists use graphs in their work?
Please provide the best answer for the statement.