At a given demand, if the supply of a commodity declines, the ...

[arivle123]

At a given demand, if the supply of a commodity declines, the equilibrium price level falls.
  Indicate whether the statement is true or false

Question 2

A producer can raise profit by expanding output if his:
 a. marginal revenue is equal to marginal cost.
  b. marginal revenue is less than marginal cost.
  c. marginal revenue is negative.
  d. marginal cost is negative.
  e. marginal revenue is greater than marginal cost.

[mistyjohnson]

Answer to Question 1

F

Answer to Question 2

e

[arivle123]

Thanks for the timely response, appreciate it

[aliotak]

TYSM