Which of the following are true of comparing marginal revenue to marginal cost?
(i) it reveals the contribution of the last unit of production to total profit
(ii) it is helpful in making profit-maximising production decisions
(iii) it always reveals whether a firm is making an economic profit
(iv) it tells a firm whether its fixed costs are too high
A) (i) and (ii) only
B) (iii) only
C) (ii) and (iii) only
D) (i) , (ii) , (iii) and (iv)
Correct Answer:
Verified
Q51: Table 14-1
This table shows the revenue and
Q52: Table 14-1
This table shows the revenue and
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Q54: Table 14-2
The price of each butterfly that
Q55: Table 14-1
This table shows the revenue and
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Q61: Graph 14-1 ![]()
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