Author Question: If a firm's marginal revenue is below its marginal cost, an increase in production will usually a. ... (Read 82 times)

Bernana · **on:** Jul 1, 2018

If a firm's marginal revenue is below its marginal cost, an increase in production will usually
a. increase profits.
b. leave profits unchanged.
c. decrease profits.
d. increase marginal revenue.

Question 2

If a firm is a price taker, its marginal revenue is
a. equal to market price.
b. less than market price.
c. greater than market price.
d. a multiple of market price that may be either greater than or less than one.