Author Question: Whenever marginal revenue is greater than marginal cost, a profit-maximizing firm should reduce its ... (Read 109 times)

berenicecastro

  • Hero Member
  • *****
  • Posts: 581
Whenever marginal revenue is greater than marginal cost, a profit-maximizing firm should reduce its output.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

For any particular period of time, say a year, the supply of exhaustible resources:
 a. decreases infinitely with an increase in price.
  b. remains unaffected by any change in price.
  c. increases infinitely with an increase in price.
  d. increases to a certain extent with an increase in price.
  e. decreases to a certain extent with an increase in price.



IRincones

  • Sr. Member
  • ****
  • Posts: 321
Answer to Question 1

False

Answer to Question 2

d



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

Computer programs are available that crosscheck a new drug's possible trade name with all other trade names currently available. These programs detect dangerous similarities between names and alert the manufacturer of the drug.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Certain chemicals, after ingestion, can be converted by the body into cyanide. Most of these chemicals have been removed from the market, but some old nail polish remover, solvents, and plastics manufacturing solutions can contain these substances.

Did you know?

The top 10 most important tips that will help you grow old gracefully include (1) quit smoking, (2) keep your weight down, (3) take supplements, (4) skip a meal each day or fast 1 day per week, (5) get a pet, (6) get medical help for chronic pain, (7) walk regularly, (8) reduce arguments, (9) put live plants in your living space, and (10) do some weight training.

For a complete list of videos, visit our video library