If a Competitive Firm Is Currently Producing a Level of Output

question 239

Multiple Choice

If a competitive firm is currently producing a level of output at which marginal cost exceeds marginal revenue, then

• A)a one-unit increase in output will increase the firm's profit.
• B)a one-unit decrease in output will increase the firm's profit.
• C)total revenue exceeds total cost.
• D)total cost exceeds total revenue.

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Definitions:

Undue Hardship

A condition or situation that requires significant difficulty or expense for an employer to accommodate, often used in the context of employment law.

Accommodate Needs

Refers to adapting or making adjustments to meet the specific requirements of individuals or groups.

Promote Employees

The act of moving employees to a higher position or rank within an organization.

Classify Jobs

involves organizing various occupations into categories based on similar duties, responsibilities, skills, and employment criteria.