If a firm's marginal revenue is below its marginal cost, an increase in production will usually: a. increase profits b. leave profits unchanged c. decrease profits d. increase marginal revenue
If a firm's marginal revenue is below its marginal cost, an increase in production will usually: a. increase profits b. leave profits unchanged c. decrease profits d. increase marginal revenue
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Cost Of Production
Section12.1: What Are Costs?
Problem 1QQ
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If a firm's marginal revenue is below its marginal cost, an increase in production will usually:
a. increase profits
b. leave profits unchanged
c. decrease profits
d. increase marginal revenue
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