If marginal cost is equal to marginal revenue
A. the firm should expand output.
B. the firm should contract output.
C. the firm should hold output constant.
D. there is no way to determine if the firm should expand output, contract output, or hold output constant.
C. the firm should hold output constant.
You might also like to view...
What are the three balance of payments accounts? Briefly describe them. What is the relationship among the three?
What will be an ideal response?
The main purpose of antitrust law is to
A) prohibit monopoly practices such as restricting output. B) regulate advertising. C) encourage the formation of cartels. D) regulate the stock and bond markets.
How did international policy coordination contribute to the avoidance of an economic depression in 2008 - 2010?
What will be an ideal response?
Which of the following is NOT a form of outsourcing?
A) hiring an accountant to do your taxes B) replacing the windshield wipers on your car C) paying your son to mow the lawn D) taking a taxi to the airport