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Author Question: If marginal revenue exceeds marginal cost, profit maximizers should: a. reduce output until they ... (Read 123 times)

penguins

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on: Jun 30, 2018
If marginal revenue exceeds marginal cost, profit maximizers should:
 a. reduce output until they are equal.
  b. increase output until they are equal.
  c. increase output until profits are zero.
  d. decrease output unless profits are zero.
  e. maintain current output.

Question 2

As shown in Exhibit 5-9, assuming goods X and Y are substitutes, an increase in the price of Y, other factors held constant, could move the equilibrium from point E to point:
 a. A.
  b. B.
  c. C.
  d. D.


josephsuarez

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

b

Answer to Question 2

c


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