The following figures show the demand (D) and supply (S) curves of micro and macro economists.Figure 16.6

-A firm decides to hire more equipment if:
A) the average revenue it earns by selling its output is equal to its average cost.
B) its total revenue is greater than the total cost of hiring the equipment.
C) the marginal revenue product of the additional unit of equipment is greater than the marginal factor cost.
D) its average revenue is greater than the average cost of hiring equipment.
E) the price of its product is greater than the average cost of production.
Correct Answer:
Verified
Q13: The following figures show the demand (D)
Q14: The figure given below shows the demand
Q15: The following figures show the demand (D)
Q16: The figure given below shows the demand
Q17: The figure given below shows the demand
Q19: The figure given below shows the demand
Q20: The figure given below shows the demand
Q21: The figure given below shows the demand
Q22: The figure given below shows the demand
Q23: The figure given below shows the demand
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