Table 14-9
Suppose that a firm in a competitive market faces the following revenues and costs:
-Refer to Table 14-9. If the firm's marginal cost is $11, it should
A)increase production to maximize profit.
B)increase the price of the product to maximize profit.
C)advertise to attract additional buyers to maximize profit.
D)reduce production to increase profit.

Question

Table 14-9
Suppose that a firm in a competitive market faces the following revenues and costs: 
-Refer to Table 14-9. If the firm's marginal cost is $11, it should
A)increase production to maximize profit. 
B)increase the price of the product to maximize profit. 
C)advertise to attract additional buyers to maximize profit. 
D)reduce production to increase profit.

Quizplus · Accepted Answer

The Answer of Table 14-9
Suppose that a firm in a competitive market faces the following revenues and costs: 
-Refer to Table 14-9. If the firm's marginal cost is $11, it should
A)increase production to maximize profit. 
B)increase the price of the product to maximize profit. 
C)advertise to attract additional buyers to maximize profit. 
D)reduce production to increase profit.

Table 14-9 Suppose That a Firm in a Competitive Market Faces the Faces