To reduce labor costs, companies often invent machines and methods to produce products and reduce the amount of labor required. This is called

Marginal revenue (MR) is ____ when total revenue is maximized

a. greater than one b. equal to one c. less than zero d. equal to zero e. equal to minus one

Because of scarcity, we attempt to utilize our resources as efficiently as possible

a. True b. False Indicate whether the statement is true or false