To Maximize Profits, a Competitive Firm Increases Its Output as Long

question 142

Multiple Choice

To maximize profits, a competitive firm increases its output as long as

• A)total revenue is greater than total cost.
• B)total revenue is less than total cost.
• C)marginal revenue is less than marginal cost.
• D)marginal revenue is greater than marginal cost.
• E)marginal revenue is positive.

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Definitions:

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often accompanied by a dismissal of other cultures.

Body Language

Non-verbal communication through gestures, facial expressions, behaviors, and posture.

Two-Word Verb

A two-word verb, also known as a phrasal verb, is a verb phrase consisting of a verb and an adverb or preposition, forming a single semantic unit.

Two-Word Verb

A verb that combines a basic verb with a preposition or adverb to create a distinct meaning, for example, "look up."