« previous next »

Author Question: If a firm increases output when MR > MC, then: a. profit will equal zero. b. profit will ... (Read 36 times)

ENagel

  • Hero Member
  • *****
  • Posts: 540
on: Jun 30, 2018
If a firm increases output when MR > MC, then:
 a. profit will equal zero.
  b. profit will increase.
  c. profit will decrease.
  d. profit will remain the same.
  e. the firm is minimizing losses.

Question 2

If a 10 percent decrease in the price of product A brings about a 3 percent increase in the sales of product B, then:
 a. products A and B are complementary.
  b. the cross elasticity of demand between these two products is positive.
  c. products A and B are substitutes.
  d. the demand for these products is inelastic.
  e. the total revenue earned from product A will decrease.


parker125

  • Sr. Member
  • ****
  • Posts: 332
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

a


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Your chance of developing a kidney stone is 1 in 10. In recent years, approximately 3.7 million people in the United States were diagnosed with a kidney disease.

Did you know?

It is believed that humans initially contracted crabs from gorillas about 3 million years ago from either sleeping in gorilla nests or eating the apes.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

A recent study has found that following a diet rich in berries may slow down the aging process of the brain. This diet apparently helps to keep dopamine levels much higher than are seen in normal individuals who do not eat berries as a regular part of their diet as they enter their later years.

Did you know?

Aspirin may benefit 11 different cancers, including those of the colon, pancreas, lungs, prostate, breasts, and leukemia.

Rule of Nines. A method for determining percentage of body burned. Each different colored section re Rule of Nines. A method for determining percentage of body burned. Each different colored section re
J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo J. P. Morgan, the financial genius, staved off ruinous competition among steel firms by combining mo
The National Organization for Women holds a rally in Illinois for the Equal Rights Amendment. In ... The National Organization for Women holds a rally in Illinois for the Equal Rights Amendment. In ...
Failure of the Equal Rights Amendment, 1972–1982 Failure of the Equal Rights Amendment, 1972–1982
British Output and Productivity Growth, 1760–1913 British Output and Productivity Growth, 1760–1913
The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ... The profit, p(t), made at a fair depends on the price of the ticket, t. The profit is modelled ...
Video: What are Taste Receptors? How Does it Work? Animation

For a complete list of videos, visit our video library