A firm is currently operating where the MC of the last unit produced = $64, and the MR of this unit = $70 . What would you advise this firm to do?
a. Shut down.
b. Increase output.
c. Stay at current output.
d. Decrease output.
e. Decrease price.
b
Economics
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What are the main characteristics that make it more likely for a cartel to enforce agreements among participating members?
What will be an ideal response?
Economics
Figure 2-4
Which production possibilities frontier(s) in depict(s) a situation in which all resources are perfect substitutes in production?
a.
both C and E
b.
both D and E
c.
C
d.
D
e.
E
Economics