If a firm sets marginal revenue equal to marginal cost, it will make an economic profit
Indicate whether the statement is true or false
False. When a firm sets MR=MC it maximizes profits but the profit-maximizing level of output might still be negative (the smallest loss possible).
Economics
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If there is unplanned inventory accumulation there is excess
A) demand for bonds. B) supply of bonds. C) demand for commodities. D) supply of commodities.
Economics
Strategic behavior
A) is found in competitive markets. B) is a form of product differentiation. C) involves the interdependence of actions. D) is only present when there are price fixing agreements.
Economics