If at a Given Quantity _____,The Decision Maker Should Do

question 34

Multiple Choice

If at a given quantity _____,the decision maker should do _____ of the activity.

• A)MB < MC;that amount
• B)MB < MC;more
• C)MB > MC;more
• D)MB > MC;none

---

Definitions:

Price-Inelastic

A characteristic of a product or service when consumers’ demand does not change significantly with a change in its price.

Agricultural Product

Any type of product, including food, fibers, fuels, and raw materials, that is derived from farming and ranching.

Price Elasticity of Demand

A determination of demand's sensitivity to pricing shifts of a product.

Agricultural Risk Coverage Program

A U.S. government program that provides financial assistance to agricultural producers when crop revenues or yields fall below guarantee levels.