If, as a firm increases its rate of output, total cost increases as well,
a. profit cannot be maximized
b. revenue cannot be maximized
c. cost cannot be minimized
d. marginal cost is increasing
e. marginal cost is positive
E
Economics
You might also like to view...
Based on the rule of 72, it would require 18 years for an economy to double its real output if the annual growth rate was 4%
a. True b. False Indicate whether the statement is true or false
Economics
Starting from long-run equilibrium, a large tax increase will result in a(n) ________ gap in the short-run and ________ inflation and ________ output in the long-run.
A. recessionary; lower; potential B. expansionary; lower; potential C. expansionary; higher; potential D. recessionary; lower; lower
Economics