If marginal revenue is less than marginal costs
A) production should be decreased.
B) production should be decreased and profits will grow.
C) production should be decreased and losses will decrease.
D) all of these choices are possible.
Correct Answer:
Verified
Q4: Entry into a competitive market will continue
Q14: Exit from a market will stop when
A)accounting
Q15: If marginal revenue exceeds marginal costs
A)production should
Q16: With free entry
A)economic profits are possible over
Q17: Profits are maximized when
A)added costs are equal
Q19: The objective of creating value is the
Q21: In monopolistic competition
A)firms can earn long-run economic
Q22: Entry causes _ to increase and a
Q23: In an oligopoly
A)there are many firms.
B)there is
Q24: Monopolistic competition is characterized by
A)ease of entry.
B)many
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