If a firm's marginal cost exceeds its marginal revenue, then a. profit is negative b. the...
If a firm's marginal cost exceeds its marginal revenue, then
a. profit is negative
b. the firm should shut down
c. cutting back production will increase profits
d. the firm should reduce its per-unit cost by increasing its output
Homework Answers
"C"
if he MC is higher than the marginal revenue then in that case if the firm decreases the output they will be making a higher profit. because then the mR=MC.
Add Answer to:
If a firm's marginal cost exceeds its marginal revenue, then
a. profit is negative
b. the...
At a firm's current level of production, marginal revenue is greater than marginal cost (MR>MC).A profit-maximizing...
At a firm's current level of production, marginal revenue is greater than marginal cost (MR>MC).A profit-maximizing firm will increase prices. increase output decrease output. O shut down.
Exhibit 8-9 A firm's cost and marginal revenue curves In Exhibit 8-9, product price in this...
Exhibit 8-9 A firm's cost and marginal revenue curves In Exhibit 8-9, product price in this market is fixed at $14. This firm is currently operating where MR = MC. What do you advise this firm to do? Group of answer choices A. This firm should shut down. B. This firm could increase profits by increasing output. C. This firm could increase profits by decreasing output. D. This firm should continue to operate at its current output. E. This firm...
QUESTION 4 The term variable costs refers to O prices of inputs that vary a lot...
QUESTION 4 The term variable costs refers to O prices of inputs that vary a lot increases in the prices of any input costs that vary with the type of final product being produced costs that vary with the quantity of output being produced QUESTION 5 If a firm's marginal cost exceeds its marginal revenue, then O profit is negative the firm should shut down cutting back production will increase profits the firm should reduce its per-unit cost by increasing...
please answer in an A, B, C, D format. Thank you. 3120 per day. The effect...
please answer in an A, B, C, D format. Thank you.
3120 per day. The effect on couts will be QUESTION 1 Suppose that the price of labor, the only variable input used in production, increases from 1100 a parallel shift in the total cost ourve parallels in the feed cost curve a parallel hit in the marginal cost curve a shift in total cost byderent amounts for different quantes QUESTION 2 Your company produces peanut butter. An increase in...
At a firm's current level of production, marginal revenue is less than marginal cost (MR<MC). A...
At a firm's current level of production, marginal revenue is less than marginal cost (MR<MC). A profit- maximizing firm will decrease prices. increase output O decrease output. shut down.
If marginal cost for a firm exceeds marginal revenue, what can be said about the firm?...
If marginal cost for a firm exceeds marginal revenue, what can be said about the firm? Select one: O a. It should increase the level of production to maximize its profit. O b. It must be experiencing losses. O c. It is most likely to be at a profit-maximizing level of output. O d. It may still be earning a profit.
If the competitive firm suddenly notices that price exceeds its marginal cost, it should: Select one:...
If the competitive firm suddenly notices that price exceeds its marginal cost, it should: Select one: a. shut down. b. decrease output. c. raise its price. d. increase output.
15. When marginal cost is less than average total cost, a. marginal cost must be falling....
15. When marginal cost is less than average total cost, a. marginal cost must be falling. b. average variable cost must be falling. c. average total cost is falling. d. average total cost is rising. 16. Which of the following is not a characteristic of a competitive market? a. Buyers and sellers are price takers. b. Each firm sells a virtually identical product. c. Entry is limited d. Each firm chooses an output level that maximizes profits. 17. If a...
need help with all of them Question 6 (1 point) In perfect competition, marginal revenue is the change in revenue from...
need help with all of them
Question 6 (1 point) In perfect competition, marginal revenue is the change in revenue from selling an additional unit of output the revenue in excess of what can be earned in the next-best alternative the last dollar needed to make zero economic profit the extra revenue generated by a $1 change in price the last dollar needed to make maximum profit Question 7 (1 point) In which of the following situations should a profit-maximizing...
33. In the figure above, a firm's total revenue and total cost curves are shown. Which...
33. In the figure above, a firm's total revenue and total cost curves are shown. Which one of the following statements is FALSE? a. Total profit is the vertical distance by which the total revenue curve exceeds the total cost curve. b. At output Q1, the firm makes zero economic profit. c. At an output above Q3, the firm suffers an economic loss. d. At output Q2, the firm suffers an economic loss. Price and cost (dollars per unit) 01...
At a firm's current level of production, marginal revenue is greater than marginal cost (MR>MC).A profit-maximizing firm will increase prices. increase output decrease output. O shut down.
QUESTION 4 The term variable costs refers to O prices of inputs that vary a lot increases in the prices of any input costs that vary with the type of final product being produced costs that vary with the quantity of output being produced QUESTION 5 If a firm's marginal cost exceeds its marginal revenue, then O profit is negative the firm should shut down cutting back production will increase profits the firm should reduce its per-unit cost by increasing...
please answer in an A, B, C, D format. Thank you.
3120 per day. The effect on couts will be QUESTION 1 Suppose that the price of labor, the only variable input used in production, increases from 1100 a parallel shift in the total cost ourve parallels in the feed cost curve a parallel hit in the marginal cost curve a shift in total cost byderent amounts for different quantes QUESTION 2 Your company produces peanut butter. An increase in...
At a firm's current level of production, marginal revenue is less than marginal cost (MR<MC). A profit- maximizing firm will decrease prices. increase output O decrease output. shut down.
If marginal cost for a firm exceeds marginal revenue, what can be said about the firm? Select one: O a. It should increase the level of production to maximize its profit. O b. It must be experiencing losses. O c. It is most likely to be at a profit-maximizing level of output. O d. It may still be earning a profit.
15. When marginal cost is less than average total cost, a. marginal cost must be falling. b. average variable cost must be falling. c. average total cost is falling. d. average total cost is rising. 16. Which of the following is not a characteristic of a competitive market? a. Buyers and sellers are price takers. b. Each firm sells a virtually identical product. c. Entry is limited d. Each firm chooses an output level that maximizes profits. 17. If a...
need help with all of them
Question 6 (1 point) In perfect competition, marginal revenue is the change in revenue from selling an additional unit of output the revenue in excess of what can be earned in the next-best alternative the last dollar needed to make zero economic profit the extra revenue generated by a $1 change in price the last dollar needed to make maximum profit Question 7 (1 point) In which of the following situations should a profit-maximizing...
33. In the figure above, a firm's total revenue and total cost curves are shown. Which one of the following statements is FALSE? a. Total profit is the vertical distance by which the total revenue curve exceeds the total cost curve. b. At output Q1, the firm makes zero economic profit. c. At an output above Q3, the firm suffers an economic loss. d. At output Q2, the firm suffers an economic loss. Price and cost (dollars per unit) 01...
Most questions answered within 3 hours.
-
Hydrobromic acid
dissolves solid iron according to the followiaung reaction:
Fe(s)+2HBr(aq)→
FeBr2(aq)+ H2(g)
Part A. What...
asked 1 hour ago -
Verify the following vector identity in SPHERICAL
COORDINATES.
div(curl(A)) = 0
asked 3 hours ago -
The work function (Φ) for a metal is 7.50×10-19 J.
What is the longest wavelength (nm)...
asked 3 hours ago -
1. Would the following procedural changes cause the
calculated mass percent Ni2+ ion in Ni(NH3)nCl2 to...
asked 5 hours ago -
1. Why does the voltage of the capacitor vary with frequency?
where does this missing voltage...
asked 6 hours ago -
p p please write each step out clearly
3. A manager of a company is considering...
asked 5 hours ago -
On October 1, Ebony Ernst organized Ernst Consulting; on October
3, the owner contributed $83,540 in...
asked 6 hours ago -
A.)As an electron moves through a region of space, its speed
decreases from 9.60 × 106...
asked 6 hours ago -
In java with the netbeans program do:
Through object programming
Create a class "ContadorP", which is...
asked 6 hours ago -
Pattern Corporation acquired all of Science
Company's outstanding stock on January 1, 2016 for $600,000 cash....
asked 6 hours ago -
Here are all accounts Tyler Co. maintains.
Tax expenses $4,750
Common stocks $48,840
SG&A expenses $2,500...
asked 7 hours ago -
Lis
out the types and equation of wind profile and the respective
variables in the fds...
asked 7 hours ago