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Author Question: If ABC Printing is producing an output level of 100, where MR is 5 and MC is 3, then the firm is: ... (Read 46 times)

jace

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  • Posts: 541
on: Jun 30, 2018
If ABC Printing is producing an output level of 100, where MR is 5 and MC is 3, then the firm is:
 a. maximizing total profit.
  b. making too much profit.
  c. making 200 total profit.
  d. making 200 total loss.
  e. making an unknown amount of profit or loss.

Question 2

Inferior goods have an income elasticity of demand that is:
 a. positive.
  b. negative.
  c. 0.
  d. greater than 1 in absolute value.
  e. equal to 1 in absolute value.


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ryhom

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Reply #1 on: Jun 30, 2018
Answer to Question 1

e

Answer to Question 2

b


jace

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  • Posts: 541
Reply 2 on: Jun 30, 2018
Excellent

diana chang

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Reply 3 on: Yesterday
Gracias!

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