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Author Question: Whenever marginal revenue is greater than marginal cost, a profit-maximizing firm should reduce its ... (Read 66 times)

berenicecastro

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on: Jun 30, 2018
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

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

False

Answer to Question 2

d


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