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Author Question: Assume that a firm's marginal revenue just barely exceeds marginal cost. Under these conditions the ... (Read 26 times)

brutforce

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on: Jun 30, 2018
Assume that a firm's marginal revenue just barely exceeds marginal cost. Under these conditions the firm should:
 a. expand output.
  b. contract output.
  c. maintain output.
  d. There is insufficient information to answer the question.

Question 2

In Exhibit 5-9, the price elasticity of supply for good X between points E and C is:
 a. 7/5 = 1.40.
  b. 1/5 =0.20.
  c. 5/7 = 0.71.
  d. 1.


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lorealeza77

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

c


brutforce

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Reply #2 on: Jun 30, 2018
Thank you :)


lorealeza77

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Reply #3 on: Jun 30, 2018
Happy to help you


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