A firm is generally more interested in marginal profits than in total profits
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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If the price of oil rises, producers of oil will
A) increase the quantity of oil supplied. B) supply less oil. C) leave the amount of oil supplied unchanged. D) cut the price.
Economics
Goodspeed Automobiles manufactures 100 disc brake cylinders. At this output level, its marginal revenue is equal to its marginal cost. If the revenue per unit of output is $500 and the per unit cost is $350, its profit is:
a. $20,000. b. $15,000. c. $45,000. d. $25,000. e. $10,000.
Economics