Author Question: If demand is inelastic, marginal revenue will be a. positive. b. zero. c. negative. d. ... (Read 53 times)

genevieve1028

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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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Answer to Question 1

c

Answer to Question 2

b



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