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 124 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?

The human body produces and destroys 15 million blood cells every second.

Did you know?

More than 50% of American adults have oral herpes, which is commonly known as "cold sores" or "fever blisters." The herpes virus can be active on the skin surface without showing any signs or causing any symptoms.

Did you know?

The largest baby ever born weighed more than 23 pounds but died just 11 hours after his birth in 1879. The largest surviving baby was born in October 2009 in Sumatra, Indonesia, and weighed an astounding 19.2 pounds at birth.

Did you know?

Looking at the sun may not only cause headache and distort your vision temporarily, but it can also cause permanent eye damage. Any exposure to sunlight adds to the cumulative effects of ultraviolet (UV) radiation on your eyes. UV exposure has been linked to eye disorders such as macular degeneration, solar retinitis, and corneal dystrophies.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Cellular changes associated with short-term and long-term memory in the sea slug. Cellular changes associated with short-term and long-term memory in the sea slug.
Total fertility rates (TFRs) among major regions of the world. Total fertility rates (TFRs) among major regions of the world.
To measure fuel-injector resistance, a technician constructed a short wiring harness with a double ... To measure fuel-injector resistance, a technician constructed a short wiring harness with a double ...
Typical Startup Cost Categories Cont. Typical Startup Cost Categories Cont.
Does It Cost More to Eat Healthy? Does It Cost More to Eat Healthy?
Infant formula is available in several forms and varies in cost and ingredients Infant formula is available in several forms and varies in cost and ingredients
Video: Mechanisms for chromosome movement Animation

For a complete list of videos, visit our video library