Sec 14.2 MC Profit Maximization and the Competitive Firm
Sec 14.2 MC Profit Maximization and the Competitive Firm
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时间:2019-09-23
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1、1. Ifacompetitivefirmiscurrentlyproducingalevelofoutputatwhichmarginalrevenueexceedsmarginalcost,then a. aone-unitincreaseinoutputwillincreasethefirm'sprofit. b. aone-unitdecreaseinoutputwillincreasethefirm'sprofit. c. totalrevenueexceedstotalcost. d. totalcostexceedstotalrevenue.ANSWER:
3、ducingalevelofoutputatwhichmarginalcostexceedsmarginalrevenue,then a. aone-unitincreaseinoutputwillincreasethefirm'sprofit. b. aone-unitdecreaseinoutputwillincreasethefirm'sprofit. c. totalrevenueexceedstotalcost. d. totalcostexceedstotalrevenue.ANSWER: bDIFFICULTY: ModerateLEARNING OBJ
5、costexceedsmarginalrevenue,then a. averagerevenueexceedsmarginalcost. b. thefirmisearningapositiveprofit. c. decreasingoutputwouldincreasethefirm'sprofit. d. Alloftheabovearecorrect.ANSWER: cDIFFICULTY: ModerateLEARNING OBJECTIVES: ECON.MANK.284-Giventhemarketpriceandthefirm’sproductio
7、aximizingproductiondecisions.(iii)tellsafirmwhetheritsfixedcostsaretoohigh. a. (i)only b. (i)and(ii)only c. (ii)and(iii)only d. (i)and(iii)onlyCopyrightCengageLearning.PoweredbyCognero.Page 84ANSWER: bDIFFICULTY: ModerateLEARNING OBJECTIVES: ECON.MANK.284-Giventh