Whenever marginal cost exceeds marginal revenue,
a. profit declines if the firm reduces output
b. profit increases if the firm increases output
c. the firm should shut down
d. losses decrease if the firm increases output
e. profit declines if the firm increases output
E
You might also like to view...
The price of gold should be ________ to the expected inflation rate
A) positively related B) negatively related C) inversely related D) unrelated
Which statement is correct regarding allocative efficiency in monopolistic competition?
a. When new competitors enter a monopolistically competitive industry, the demand curve for each firm will shift to the left. b. When new competitors enter a monopolistically competitive industry, the demand curve for each firm will shift to the right. c. When new competitors exit a monopolistically competitive industry, the demand curve for each firm will shift to the left. d. When new competitors enter a monopolistically competitive industry, the demand curve for each firm will not be affected.
It is possible to purchase diplomas from diploma mills. The situation in which the degrees are more important than the knowledge they are supposed to represent is called:
A. accreditation. B. credentialism. C. cretinism. D. diplomacy.
The economy's aggregate supply curve reflects
A) A normal range. B) A Keynesian or depression range. C) A classical range. D) All of the above.