If Marginal Cost Is Greater Than Marginal Revenue

question 90

Multiple Choice

If marginal cost is greater than marginal revenue

• A)the firm should expand output.
• B)the firm should contract output.
• C)the firm should hold output constant.
• D)there is no way to determine if the firm should expand output,contract output,or hold output constant.

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Definitions:

Market Research

The process of gathering, analyzing, and interpreting information about a market, including potential customers and competitors.

SWOT Analysis

A strategic planning tool that evaluates Strengths, Weaknesses, Opportunities, and Threats of a business or project.

Competitive Analysis

The systematic evaluation of the strengths and weaknesses of current and potential competitors.

Technological Environment

Refers to the set of technological conditions and developments that affect the operation and performance of businesses.