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Camptastic213 Camptastic213
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6 years ago
If a firm increases output when MR < MC, then:
 a. profit will equal zero.
  b. profit will increase.
  c. profit will decrease.
  d. profit will remain the same.
  e. the firm is minimizing losses.

QUESTION 2

If a good is inferior in an economic sense:
 a. it is demand price elastic.
  b. it is demand price inelastic.
  c. the income elasticity of demand is negative.
  d. it is a low-quality good.
  e. it is not the highest quality good in its class.

QUESTION 3

If a firm decreases output when MR > MC, then:
 a. profit will equal zero.
  b. profit will increase.
  c. profit will decrease.
  d. profit will remain the same.
  e. the firm is minimizing losses.

QUESTION 4

Two goods are complementary if:
 a. they are part of the basic food group.
  b. each performs the same basic task.
  c. the cross elasticity of demand is positive.
  d. they are used together.
  e. the income elasticity of demand is negative.

QUESTION 5

If a firm increases output when MR > MC, then:
 a. profit will equal zero.
  b. profit will increase.
  c. profit will decrease.
  d. profit will remain the same.
  e. the firm is minimizing losses.
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elhelwwelhelww
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Posts: 382
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6 years ago
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Camptastic213 Author
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#2
6 years ago
Extremely helpful
wrote...
#3
6 years ago
Cool, thanks for the positive feedback
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