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Home Q & A Board Other Fields Homework Help Business Economics
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Tneary Tneary
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4 years 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.

Textbook 
InMicro

InMicro


Edition: 1st
Authors:
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Curtis x.Curtis x.
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Tneary Author
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4 years ago
Just got PERFECT on my quiz
erimis
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Yesterday
Helped a lot
jaray75
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2 hours ago
Brilliant ツ
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