If ΔY₂P₂ > ΔY₁/P₁ Then

question 1

Multiple Choice

If ΔY₂P₂ > ΔY₁/P₁ then:

• A) the firm could increase revenue by moving into Y₂
• B) the firm could increase revenue by moving out of Y₂
• C) the firm could increase revenue by remaining at the same output combination
• D) not enough information to answer

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Definitions:

Central Government

The national or federal government, responsible for the administration and governance of a country as a whole.

Convention in Philadelphia

The Convention in Philadelphia, also known as the Constitutional Convention of 1787, was a meeting where the Constitution of the United States was drafted to replace the Articles of Confederation.

Rhode Island

The smallest U.S. state by area, known for its sandy shores and seaside colonial towns. It played a significant role in the American Revolution.

Massachusetts

A state in the northeastern United States, known for its significant historical sites related to the early history of the nation.