When the marginal cost of a price-taker firm is more than the market price of its product, the firm should:
a. expand output.
b. reduce output.
c. maintain output.
d. charge more than the market price.
a
Economics
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The figure above shows the price of a DVD player from 1996 to 2000. a. What type of graph is illustrated above? b. What is the trend in the price of a DVD player?
What will be an ideal response?
Economics
Which of the following CANNOT be eliminated in a growing economy such as the U.S. economy?
A) absolute poverty B) relative poverty C) both absolute and relative poverty D) Neither absolute nor relative poverty can be eliminated.
Economics