Mark Owns a Cattle Station near Darwin

question 84

Multiple Choice

Mark owns a cattle station near Darwin. Mark is currently producing beef at an output level where marginal revenue exceeds marginal cost. In order to maximise his profit, Mark should

• A) decrease his output.
• B) shut down his cattle station.
• C) increase his output.
• D) not change his output.
• E) probably change his output, but more information is needed to determine if he should increase, decrease or not change it.

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Definitions:

Physical Erosion

The process by which soil, rock, or other surface material is worn away through the action of wind, water, or ice.

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