A profit-maximizing firm in the short run will expand output:
A. Until marginal cost begins to rise
B. Until total revenue equals total cost
C. Until marginal cost equals average variable cost
D. As long as marginal revenue is greater than marginal cost
D. As long as marginal revenue is greater than marginal cost
Economics
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The smaller the marginal propensity to save, other things constant, _____
a. the smaller the marginal propensity to consume b. the larger the multiplier c. the smaller the multiplier d. the flatter the consumption function e. the steeper the saving function
Economics
If ______ then AVC is falling.
a. MC > AVC b. MC < AVC c. MC > AFC d. MC < AFC
Economics