[Answered] Assume that a firm's marginal revenue just barely exceeds marginal cost. Under these conditions the ...

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Author Question: Assume that a firm's marginal revenue just barely exceeds marginal cost. Under these conditions the ... (Read 47 times)

brutforce

Hero Member
Posts: 540

on: Jun 30, 2018

Assume that a firm's marginal revenue just barely exceeds marginal cost. Under these conditions the firm should:
a. expand output.
b. contract output.
c. maintain output.
d. There is insufficient information to answer the question.

Question 2

In Exhibit 5-9, the price elasticity of supply for good X between points E and C is:
a. 7/5 = 1.40.
b. 1/5 =0.20.
c. 5/7 = 0.71.
d. 1.

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lorealeza77

Sr. Member
Posts: 356

Reply #1 on: Jun 30, 2018

Answer to Question 1

a

Answer to Question 2

c

brutforce

Hero Member
Posts: 540

Reply #2 on: Jun 30, 2018

Thank you

lorealeza77

Sr. Member
Posts: 356

Reply #3 on: Jun 30, 2018

Happy to help you

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Author Question: Assume that a firm's marginal revenue just barely exceeds marginal cost. Under these conditions the ... (Read 47 times)

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