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

Author Question: If marginal revenue exceeds marginal cost in the short run, total revenue for the perfectly ... (Read 230 times)

londonang

  • Hero Member
  • *****
  • Posts: 540
on: Jun 30, 2018
If marginal revenue exceeds marginal cost in the short run, total revenue for the perfectly competitive firm is greater than total cost.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

Which of the following statements is true about the total utility provided by a good?
 a. Total utility can never be negative.
  b. Total utility is maximized when marginal utility is maximized.
  c. Total utility continues to increase as more of the good is consumed.
  d. Total utility is maximized when marginal utility is zero (for total utility > 0).
  e. Total utility is maximized when marginal utility is zero (for total utility < 0).


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

durant1234

  • Sr. Member
  • ****
  • Posts: 338
Reply #1 on: Jun 30, 2018
Answer to Question 1

False

Answer to Question 2

d


londonang

  • Hero Member
  • *****
  • Posts: 540
Reply #2 on: Jun 30, 2018
Correct answers!


durant1234

  • Sr. Member
  • ****
  • Posts: 338
Reply #3 on: Jun 30, 2018
Great! Please up vote :D


« previous next »
 

Did you know?

Throughout history, plants containing cardiac steroids have been used as heart drugs and as poisons (e.g., in arrows used in combat), emetics, and diuretics.

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

In 1835 it was discovered that a disease of silkworms known as muscardine could be transferred from one silkworm to another, and was caused by a fungus.

Did you know?

Though methadone is often used to treat dependency on other opioids, the drug itself can be abused. Crushing or snorting methadone can achieve the opiate "rush" desired by addicts. Improper use such as these can lead to a dangerous dependency on methadone. This drug now accounts for nearly one-third of opioid-related deaths.

Primary production increases with an increase in total phosphorus concentration. Primary production increases with an increase in total phosphorus concentration.
The characteristically small and relatively short-legged reindeer from Svalbard The characteristically small and relatively short-legged reindeer from Svalbard
Short, Upbeat Massage Sessions can Improve Mental Alertness. Short, Upbeat Massage Sessions can Improve Mental Alertness.
Total Fertility Rate in the United States, 1860–2008 Total Fertility Rate in the United States, 1860–2008
Cost of Laptops Cost of Laptops
question in cost accounting question in cost accounting
Video: Chloroplast Structure & Light Dependent Reactions (Photosystem 1 and 2 Cyclic Electron Flow)

For a complete list of videos, visit our video library