A firm is currently operating where the MC of the last unit produced is $64, and the MR of this unit is $70. Which of the following would increase profit?
A) Shut down.
B) Increase output.
C) Stay at current output.
D) Decrease output.
E) Decrease price.
Correct Answer:
Verified
Q76: The schedule of total costs for a
Q77: If the demand and marginal revenue curves
Q82: Use the table of expected cost and
Q85: Fun Time Inc. uses the same property
Q204: In the price-taker model, what impact does
Q211: A price-taker firm will tend to expand
Q213: A profit-maximizing firm will continue to expand
Q228: If a restaurant in a summer tourist
Q234: A firm is currently operating where the
Q238: If there is an increase in market
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