If a firm expects that the price of its product will be higher in the future than it is today, then
A) the firm will go out of business.
B) the firm has an incentive to increase supply now and decrease supply in the future.
C) the firm has an incentive to decrease quantity supplied now and increase quantity supplied in the future.
D) the firm has an incentive to decrease supply now and increase supply in the future.
Answer: D
Economics
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The social cost of a good or service includes the producer's private cost and all the external costs
Indicate whether the statement is true or false
Economics
A firm's total revenue is equal to
a. total quantity produced times marginal cost. b. total quantity produced times market price. c. marginal revenue times total quantity produced. d. market price divided by total quantity produced.
Economics