If a firm's demand curve is negatively (downward) sloping and sales increase by one unit, marginal revenue will be:
A) increasing, as a result of the increase in sales
B) less than the new lower price
C) equal to the original price
D) less than the new higher price
Correct Answer:
Verified
Q4: Diminishing marginal returns relates to the:
A) rate
Q5: If a profit- maximising firm is producing
Q6: If a firm is experiencing diseconomies of
Q7: Which of the following is most likely
Q8: In the long run, a firm will
Q10: Once the profit- maximising level of output
Q11: A firm may be unable to maximise
Q12: The formula for average variable costs is:
A)
Q13: The time period when all factors are
Q14: Diminishing marginal returns are realised in the
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