If a firm's marginal revenue from its 100th unit of output is 50 and the marginal cost from its 100th unit of output is 45, then in the short run this firm should:
a. increase its plant size.
b. change its technology.
c. produce more than 99 units of output.
d. produce less than 100 units of output.
e. shut down.
Question 2
The cross price elasticities among substitute goods will be extremely high when:
a. b and d.
b. they are very similar to each other.
c. people are consuming them frequently.
d. people consume them in equal quantities.
e. they are imperfect substitutes.
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