Author Question: At a given demand, if the supply of a commodity declines, the equilibrium price level falls. ... (Read 78 times)

arivle123 · **on:** Jun 30, 2018

At a given demand, if the supply of a commodity declines, the equilibrium price level falls.
Indicate whether the statement is true or false

Question 2

A producer can raise profit by expanding output if his:
a. marginal revenue is equal to marginal cost.
b. marginal revenue is less than marginal cost.
c. marginal revenue is negative.
d. marginal cost is negative.
e. marginal revenue is greater than marginal cost.