If a Firm Is Producing Where MR > MC

question 108

Multiple Choice

If a firm is producing where MR > MC

• A) the revenue gained by producing one more unit of output exceeds the cost incurred by doing so.
• B) the revenue gained by producing one more unit of output equals the cost incurred by doing so.
• C) the revenue gained by producing one more unit of output is less than the cost incurred by doing so.
• D) the firm is already maximizing profits because revenue is being increased by more than costs.

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Definitions:

White-Collar

Pertaining to jobs or workers in offices, administrative tasks, or professional fields, as opposed to blue-collar industrial work.

Professional

Relating to a job that requires specialized education, training, or skill.

Criminal Activities

Acts that are forbidden by law and punishable by the state or other authority.

Durkheim

Emile Durkheim, a founding figure in sociology, known for his works on the social causes of suicide, the functions of religion, and the concept of the social fact.