Assume a monopolistically competitive firm is producing at an output level at which marginal revenue is $15 and marginal cost is $18. The profit-maximizing firm should
A. raise output.
B. lower output.
C. keep output constant.
D. The firm should take none of these actions.
B. lower output.
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In 2002, the United States contained around _____ governmental units at all levels
a. ninety thousand b. twelve thousand c. fifty d. five hundred and thirty-five
A downward shift in the consumption function can be caused by:
a. expectations of higher inflation. b. an increase in wealth. c. a lower price level. d. none of these.
If both Canadian exporters and importers are content with the Canadian exchange rate, what would keep them content tomorrow?
a. a stronger Canadian dollar b. a weaker Canadian dollar c. appreciation of the Canadian exchange rate d. depreciation of the Canadian exchange rate e. no change in the Canadian exchange rate
Which of the following could increase the labor-supply curve for computer-repair technicians?
a. an increase in the wages paid to computer-repair technicians b. an increase in immigration c. a change in the work preferences of men, with more of them preferring to be stay-at-home fathers d. an increase in the wages paid to television-repair technicians