If marginal revenue is greater than marginal cost, the firm should
A) raise price.
B) raise marginal revenue.
C) increase its rate of output.
D) decrease its rate of output.
C
Economics
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Refer to the scenario above. Suppose you decide to buy a Toyota Corolla. You value the car for $10,000. You don't know it, but the car dealer values it for $8,500
If you have a zero value for poor-quality cars, what is the most that would you be willing to pay for the car? A) $3,000.50 B) $6,666.67 C) $10,000 D) $5,000
Economics
When allocating resources using market price
A) everyone who is willing and able to pay for a good gets one. B) everyone who wants a good gets one. C) everyone who is willing to pay for a good gets one. D) everyone who is able to pay for a good gets one.
Economics