« previous next »

Author Question: If a firm's marginal revenue from its 100th unit of output is 50 and the marginal cost from its ... (Read 94 times)

Pea0909berry

  • Hero Member
  • *****
  • Posts: 573
on: Jun 30, 2018
If a firm's marginal revenue from its 100th unit of output is 50 and the marginal cost from its 100th unit of output is 45, then in the short run this firm should:
 a. increase its plant size.
  b. change its technology.
  c. produce more than 99 units of output.
  d. produce less than 100 units of output.
  e. shut down.

Question 2

The cross price elasticities among substitute goods will be extremely high when:
 a. b and d.
  b. they are very similar to each other.
  c. people are consuming them frequently.
  d. people consume them in equal quantities.
  e. they are imperfect substitutes.


yifu223

  • Sr. Member
  • ****
  • Posts: 302
Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

b


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

Approximately 15–25% of recognized pregnancies end in miscarriage. However, many miscarriages often occur before a woman even knows she is pregnant.

Did you know?

There are major differences in the metabolism of morphine and the illegal drug heroin. Morphine mostly produces its CNS effects through m-receptors, and at k- and d-receptors. Heroin has a slight affinity for opiate receptors. Most of its actions are due to metabolism to active metabolites (6-acetylmorphine, morphine, and morphine-6-glucuronide).

Did you know?

The National Institutes of Health have supported research into acupuncture. This has shown that acupuncture significantly reduced pain associated with osteoarthritis of the knee, when used as a complement to conventional therapies.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Trig Degrees/Radians unit circle Trig Degrees/Radians unit circle
Schematic Diagram of the fluidized bed for the experiment (CHE415 Unit Operations) Schematic Diagram of the fluidized bed for the experiment (CHE415 Unit Operations)
A disposable cautery unit. A disposable cautery unit.
A throttle-body injection (TBI) unit used on a GM V-6 engine. A throttle-body injection (TBI) unit used on a GM V-6 engine.
MAP sensors use three wires: 1.5 volt reference from the PCM 2. Sensor signal (output signal) 3. ... MAP sensors use three wires: 1.5 volt reference from the PCM 2. Sensor signal (output signal) 3. ...
If P(θ) = (√3 /2, -1/ 2), determine the coordinates of P (θ + 90 °) using the unit circle If P(θ) = (√3 /2, -1/ 2), determine the coordinates of P (θ + 90 °) using the unit circle
Video: Introduction to Sickle Cell Anemia

For a complete list of videos, visit our video library