If Marginal Revenue and Marginal Cost Are Not Equal, Profit

question 45

Multiple Choice

If marginal revenue and marginal cost are not equal, profit can be maximized by

• A)increasing output if MR > MC.
• B)decreasing output if MC > MR.
• C)moving to the output where the slopes of TR and TC are equal.
• D)All of the responses are correct.

---

Definitions:

Transformational Leadership

A leadership approach that causes change in individuals and social systems, inspiring followers to exceed their own interests for the good of the group.

Synergy

The interaction or cooperation of two or more organizations, substances, or other agents to produce a combined effect greater than the sum of their separate effects.

GLOBE Project

A research initiative that examines the impact of culture on leadership effectiveness and organizational success worldwide.

Cultural Dimensions

Aspects of cultures that can be measured relative to other cultures, often used in social sciences to compare and contrast cultural norms and values.