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Author Question: Refer to Figure 13-17. Suppose the firm is currently producing Qf units. What happens if it ... (Read 121 times)

laurencescou

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on: Jun 29, 2018
Refer to Figure 13-17. Suppose the firm is currently producing Qf units. What happens if it increases its output to Qg units?
 
  A) It will move from a zero profit situation to a loss situation
  B) Its average cost of production will fall and its profit will rise.
  C) It will move from a zero profit situation to a profit situation
  D) It will be taking advantage of economies of scale and will be able to lower the price of its product.

Question 2

If a monopolist's marginal revenue is 15 per unit and its marginal cost is 25, then to maximize profit the firm should decrease output.
 
  Indicate whether the statement is true or false


wfdfwc23

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

TRUE


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