Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Please help me answer these questions, thanks in advance

Transcribed Image Text:**Question 2**
*Homework • Unanswered*
When a firm uses additional inputs to increase output, these inputs are:
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- a) variable
- b) fixed
- c) free
- d) too expensive

Transcribed Image Text:**Question 1**
*Homework • Unanswered*
If a firm's Total Revenue function is linear with slope equal to 5, this means that:
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a. marginal revenue is equal to $5 and price is less than $5.
b. price is equal to $5 and marginal revenue is less than $5.
c. marginal revenue and price are both equal to $5.
d. the firm must lower the price in order to sell additional units.
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