Marginal analysis involves undertaking an activity
A) until its marginal costs start declining.
B) only when its marginal benefits are positive.
C) until its marginal benefits equal marginal costs.
D) only if its marginal costs are greater than its marginal benefits.
Answer: C
Economics
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In general, as the amount of labor input decreases, the amount of output
a. increases. b. decreases. c. remains constant. d. decreases only if the capital stock also decreases.
Economics
For a firm facing a downward sloping demand curve, marginal revenue
A) is at a minimum at the midpoint of the demand curve. B) is greater at higher prices than at lower prices. C) increases each time prices are lowered. D) falls each time prices are raised.
Economics