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Author Question: In the short run, the profit-maximizing firm will ______. A. break even if marginal revenue ... (Read 49 times)

rachel9

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on: Jun 29, 2018
In the short run, the profit-maximizing firm will ______.
 
  A. break even if marginal revenue equals marginal cost
  B. make an economic profit if marginal cost is less than average total cost
  C. incur an economic loss if average fixed cost exceeds marginal revenue
  D. incur an economic loss if average total cost exceeds marginal revenue

Question 2

In 1931, the first major country to abandon the gold standard  in order to increase its policy options in face of the Great Depression  was
 
  A) Germany. B) France. C) Great Britain. D) the United States.


shayla

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D The firm's marginal revenue equals its price, so answer D is correct because in the case described by answer D, the firm's average total cost exceeds its price.

Answer to Question 2

C


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