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Economics
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26 Nov 2019

If marginal cost is below selling price, a producer should

a. increase output.

b. raise selling price.

c. lower selling price.

d. stop production.

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Related questions

If a monopolist is producing a level of output where MR exceeds MC, then it should:

A. Raise its price,

C. Increase its output,

B. Lower its output.

D. Shift its marginal cost curve upward

A perfectly competitive firm is producing at an output level where marginal cost is $8 and average total cost is $7. The current price of the good is $7.5. To maximize its profit, this firm should Assume that the firm is currently operating in the increasing portion of the marginal cost curve. A. increase its output B. raise its price C. raise its price and decrease its output D. lower its price E. decrease its output

If a perfectly competitive firm's total revenue is less than its total variable cost, the firm:
A. Should raise its price above its average variable cost.
B. Should continue to produce and increase its demand.
C. Should adopt new technology in order to lower its costs of production.
D. Should stop production by shutting down temporarily.
Ā 

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