For a certain firm,the 100th unit of output that the firm produces has a marginal revenue of $10 and a marginal cost of $11.It follows that the
A) production of the 100th unit of output increases the firm's profit by $1.
B) production of the 100th unit of output increases the firm's average total cost by $1.
C) firm's profit-maximizing level of output is less than 100 units.
D) production of the 110th unit of output must increase the firm's profit but by less than $1.
Correct Answer:
Verified
Q87: If a competitive firm is selling 1,000
Q92: For a certain firm,the 100th unit of
Q183: At the profit-maximizing level of output,
A)marginal revenue
Q190: If a competitive firm is currently producing
Q198: A certain competitive firm sells its output
Q255: Comparing marginal revenue to marginal cost
(i)reveals the
Q532: For a firm operating in a competitive
Q533: If the market elasticity of demand for
Q534: Suppose that in a competitive market the
Q535: Whenever a perfectly competitive firm chooses to
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents