A pharmaceutical company executive has to decide whether to fund a new drug development project. For this project, a success would earn $90 million and a failure would cost $10 million in lost profits. At what probability of expected success should she fund the project?

The primary difference between monopolistic competition and perfect competition is the number of firms in the market

Indicate whether the statement is true or false

If a competitive firm is currently producing a level of output at which marginal cost exceeds marginal revenue, then

a. a one-unit increase in output will increase the firm's profit. b. a one-unit decrease in output will increase the firm's profit. c. total revenue exceeds total cost. d. total cost exceeds total revenue.