If marginal revenue is positive:
A) Total costs are constant if another unit is made.
B) Total revenue increases if another unit is made.
C) Total revenue stays the same if another unit is made.
D) Profits increase if another unit is produced.
Correct Answer:
Verified
Q1: Total revenue:
A) Equals the price per unit.
B)
Q2: In the short run a firm will
Q3: In the long run a firm will
Q4: Abnormal profit occurs when:
A) Firms do unexpectedly
Q6: The shutdown point in the short run
Q7: The break-even output occurs where:
A) Price equals
Q8: If revenue equals costs, abnormal profit is
Q9: If the price of a product is
Q10: If revenue is greater than variable cost,
Q11: Normal profit occurs when price equals:
A) Average
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