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Author Question: If, at the point where MR = MC, the firm incurs losses, in the short run the firm should: a. shut ... (Read 61 times)

WWatsford

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on: Jun 30, 2018
If, at the point where MR = MC, the firm incurs losses, in the short run the firm should:
 a. shut down.
  b. increase output.
  c. decrease output.
  d. continue at its current output if P > AVC.
  e. continue at its current output if P > ATC.

Question 2

We would expect the cross elasticity between tennis racquets and tennis balls to be:
 a. negative.
  b. positive.
  c. zero.
  d. one.
  e. infinite.


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shoemake

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

d

Answer to Question 2

a


WWatsford

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Reply 2 on: Jun 30, 2018
YES! Correct, THANKS for helping me on my review

upturnedfurball

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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