If price is greater than marginal cost but not average total cost,then:
A) Total revenues are greater than total costs.
B) The firm is earning a profit.
C) Eventually the firm will go out of business.
D) The firm is experiencing diminishing marginal utility.
Correct Answer:
Verified
Q48: If an additional unit of labor costs
Q49: Rising marginal costs result from:
A) Rising marginal
Q50: The selection of the short-run rate of
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Q54: In the short run,a manufacturer should produce
Q55: Marginal cost will increase with greater output
Q56: Marginal cost is equal to:
A) Total cost
Q57: The short-run supply decision focuses on:
A) Marginal
Q58: Which of the following is not a
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