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Author Question: If a firm decreases output when MR < MC, then: a. profit will equal zero. b. profit will ... (Read 67 times)

ss2343

  • Hero Member
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  • Posts: 548
on: Jun 30, 2018
If a firm decreases output when MR < MC, then:
 a. profit will equal zero.
  b. profit will increase.
  c. profit will decrease.
  d. profit will remain the same.
  e. the firm is minimizing losses.

Question 2

If John purchases 10 percent more compact discs when his income increases 5 percent, then:
 a. his total expenditure on compact discs will fall as his income increases.
  b. compact discs would be classified as an inferior good.
  c. compact discs would be price elastic.
  d. compact discs would be income inelastic.
  e. compact discs would be income elastic.


zhanghao

  • Sr. Member
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  • Posts: 316
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

e


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