a corn farmer will tend to expand his output as long as the price of corn exceeds aversge variabke cost and: a) marginal cost is smaller than the market price b) marginal revenue is larger than the market price of corn c) marginal revenue is positive d) marginal revenue is kess than the market price of corn
a corn farmer will tend to expand his output as long as the price of corn exceeds aversge variabke cost and: a) marginal cost is smaller than the market price b) marginal revenue is larger than the market price of corn c) marginal revenue is positive d) marginal revenue is kess than the market price of corn
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
9.
a corn farmer will tend to expand his output as long as the
b) marginal revenue is larger than the market price of corn c) marginal revenue is positive
d) marginal revenue is kess than the market price of corn

Transcribed Image Text:Oa
Question 5
A corn farmer will tend to expand his output as long as the price of corn exceeds
average variable cost and
A marginal cost is smaller than the market price of com
B. marginal revenue is larger than the market price of corn.
C. marginal revenue is positive
D. marginal revenue is less than the market price of corn
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