This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Assume that a firm's marginal revenue just barely exceeds marginal cost. Under these conditions the ... (Read 122 times)

brutforce

  • Hero Member
  • *****
  • Posts: 540
on: Jun 30, 2018
Assume that a firm's marginal revenue just barely exceeds marginal cost. Under these conditions the firm should:
 a. expand output.
  b. contract output.
  c. maintain output.
  d. There is insufficient information to answer the question.

Question 2

In Exhibit 5-9, the price elasticity of supply for good X between points E and C is:
 a. 7/5 = 1.40.
  b. 1/5 =0.20.
  c. 5/7 = 0.71.
  d. 1.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

lorealeza77

  • Sr. Member
  • ****
  • Posts: 356
Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

c


brutforce

  • Hero Member
  • *****
  • Posts: 540
Reply #2 on: Jun 30, 2018
Thank you :)


lorealeza77

  • Sr. Member
  • ****
  • Posts: 356
Reply #3 on: Jun 30, 2018
Happy to help you


« previous next »
 

Did you know?

The U.S. Pharmacopeia Medication Errors Reporting Program states that approximately 50% of all medication errors involve insulin.

Did you know?

Asthma attacks and symptoms usually get started by specific triggers (such as viruses, allergies, gases, and air particles). You should talk to your doctor about these triggers and find ways to avoid or get rid of them.

Did you know?

Anti-aging claims should not ever be believed. There is no supplement, medication, or any other substance that has been proven to slow or stop the aging process.

Did you know?

The first successful kidney transplant was performed in 1954 and occurred in Boston. A kidney from an identical twin was transplanted into his dying brother's body and was not rejected because it did not appear foreign to his body.

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Rebound Tenderness, Apply Firm Pressure to the Abdomen Rebound Tenderness, Apply Firm Pressure to the Abdomen
A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ... A spark plug thread chaser is a low-cost tool that hopefully will not be used often, but is ...
The pH scale is logarithmic. A low pH indicates acidic conditions, whereas a high pH indicates ... The pH scale is logarithmic. A low pH indicates acidic conditions, whereas a high pH indicates ...
How to choose the right payment plan with changing conditions (Question 4) How to choose the right payment plan with changing conditions (Question 4)
Canadian seniors who suffer from select chronic conditions Canadian seniors who suffer from select chronic conditions
RUSP 34 Core Conditions for Newborn Genetic Screening RUSP 34 Core Conditions for Newborn Genetic Screening
Video: Peptide Bond Formation Animation

For a complete list of videos, visit our video library