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

ENagel

  • Hero Member
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  • Posts: 540
on: Jun 30, 2018
If a firm increases 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 a 10 percent decrease in the price of product A brings about a 3 percent increase in the sales of product B, then:
 a. products A and B are complementary.
  b. the cross elasticity of demand between these two products is positive.
  c. products A and B are substitutes.
  d. the demand for these products is inelastic.
  e. the total revenue earned from product A will decrease.


parker125

  • Sr. Member
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  • Posts: 332
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

a


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