One of the interesting findings of a survey of firm managers by Blinder et al. is that:
A) the vast majority of firms pay considerable attention to marginal costs in making decisions about how much output to produce.
B) the majority of respondents suggested that fixed costs are a relatively unimportant consideration when making output decisions.
C) approximately 75 percent of respondents indicated that their marginal costs of production are rising over the relevant range of output.
D) a significant percentage of respondents to the survey did not appear to understand the concept of marginal cost.
D
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a. True b. False Indicate whether the statement is true or false
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