​Which of the Following Is FALSE

question 34

Multiple Choice

​Which of the following is FALSE?

• A)​Increase production if MR>MC
• B)Produce where MR=MC
• C)Average cost is total cost per unit of production
• D)​Produce where MR=AC

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Definitions:

Mark-up Pricing

A pricing strategy where a fixed percentage is added to the cost of producing a good or service to determine its selling price.

Direct Discrimination

Actions or policies that explicitly treat an individual or group less favorably than others based on prohibited grounds such as race, gender, or age.

Indirect Discrimination

Practices or policies that appear neutral but result in a disproportionate impact on a protected group without a justifiable reason.

Diminishing Marginal Returns

The principle stating that as additional units of a variable resource are added to a fixed resource, the additional output produced by each new unit eventually decreases.