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Tneary Tneary
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Posts: 326
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A week ago

Question 1.

Suppose the extra cost for a company to advertise for one extra day each week in the local newspaper is $200. Then, the company should advertise on that additional day if it can generate additional revenue of $200 each week.



▸ true

▸ false

Question 2.

Which of the following statements about competition in a market is true?



Competition forces firms to outsource the production of their labor-intensive products.



Competition forces firms to add only low profit margins to their costs of production.



Competition forces firms to undercut their selling price, thus benefiting consumers who will be able to purchase products at the lowest price possible.



Competition forces firms to produce and sell products as long as the marginal benefit to consumers exceeds the marginal cost of production.

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Answer verified by a subject expert
curtissxx9curtissxx9
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Posts: 303
A week ago
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Answer 1

true

Answer 2

Competition forces firms to produce and sell products as long as the marginal benefit to consumers exceeds the marginal cost of production.

1

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