Chapter 14 10. Refer to Table 14-1. If the firm is producing 3 units of output, it should produce a. more units of output because its marginal revenue is greater than its marginal cost. b. fewer units of output because its marginal revenue is less than its marginal cost. c. more units of output because its marginal revenue is less than its marginal cost. d. fewer units of output because its marginal revenue is greater than its marginal cost.

Chapter 14 10. Refer to Table 14-1. If the firm is producing 3 units of output, it should produce a. more units of output because its marginal revenue is greater than its marginal cost. b. fewer units of output because its marginal revenue is less than its marginal cost. c. more units of output because its marginal revenue is less than its marginal cost. d. fewer units of output because its marginal revenue is greater than its marginal cost.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter13: Firms In Competitive Markets

Section: Chapter Questions

Problem 7PA

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