If marginal cost exceeds marginal revenue, a profit-maximizing firm should
a. expand output until marginal cost equals marginal revenue.
b. expand output until marginal revenue equals price.
c. reduce output until marginal cost equals marginal revenue.
d. reduce output until price equals average total cost.
C
Economics
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People from which nation in Europe were most likely to come to colonial North America as redemptioners?
a. Italy. b. Holland. c. Germany. d. France.
Economics
A study of what manufacturers thought their average total cost curves look like revealed that most
a. believe their ATC is downward sloping b. believe their ATC is horizontal c. believe their ATC is upward sloping d. believe their ATC is U-shaped e. do not know what their ATC looks like
Economics