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Author Question: If demand is inelastic, marginal revenue will be a. positive. b. zero. c. negative. d. ... (Read 24 times)

genevieve1028

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on: Jul 1, 2018
If demand is inelastic, marginal revenue will be
 a. positive.
  b. zero.
  c. negative.
  d. constant.

Question 2

In order to maximize profits, a firm should produce at the output level for which
 a. average cost is minimized.
  b. marginal revenue equals marginal cost.
  c. marginal cost is minimized.
  d. price minus average cost is as large as possible.


sierrahalpin

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Reply #1 on: Jul 1, 2018
Answer to Question 1

c

Answer to Question 2

b


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