If marginal revenue exceeds marginal costs A) production should ...

[cabate]

If marginal revenue exceeds marginal costs
 A) production should be increased.
  B) production should be increased and profits will grow.
  C) production should be increased and losses will decrease.
  D) all of these choices are possible.

Question 2

Differentiate between norms and focal points.

[IRincones]

Answer to Question 1

D

Answer to Question 2

The mutually understood customs the parties to a negotiation follow from experience are known as norms. A focal point is a clear standard that people use to coordinate their activities. Norms and focal points can both lower the costs of negotiation and leave fewer benefits to go unrealized by the bargainers.

[cabate]

YES! Correct, THANKS for helping me on my review

[recede]

Thanks for the timely response, appreciate it