If a perfectly competitive apple farm's marginal revenue exceeds the marginal cost of the last bushel of apples sold, what should the farm do to maximize its profit?
A) determine what the total revenue and total cost of production are
B) increase output
C) decrease output
D) lower its price to sell more
Answer: B
Economics
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The risk-free rate is the interest rate:
A. borrowers get when the loan is extremely short term. B. at which one would lend if there were no risk of default. C. the government charges for the loans it gives out. D. savers get on their deposits.
Economics
Durable consumer goods are goods that last more than
A. three years. B. five years. C. seven years. D. one year.
Economics