If a monopolist produces to a point at which marginal revenue is more than marginal cost then
A) the firm should increase output.
B) the firm should reduce output.
C) the firm is maximizing profits.
D) we do not know if the firm should increase or reduce without more information.
A
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Faster long-term growth can be achieved by discouraging saving and encouraging consumption
Indicate whether the statement is true or false
Which of the following is not an argument in favor of export promotion over import substitution?
(a) international competition compels domestic producers to become more efficient. (b) exposure to world markets provides greater opportunities to learn new technologies. (c) producing for export permits greater specialization and economies of scale. (d) outward-looking development promotes larger firms.
Any item can successfully serve as money
a. True b. False Indicate whether the statement is true or false
Draw the demand curve for a good whose price elasticity of demand is equal to infinity. Be sure to label both axes.
What will be an ideal response?