If a firm is producing a level of output at which that outputs marginal cost is less

Question:

If a firm is producing a level of output at which that output’s marginal cost is less than the price of the good, _______-.

a) it is producing too much to maximize its profits

b) it is probably maximizing its profits

c) higher profits could be obtained with increased production.

d) none of the above

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

Microeconomics

ISBN: 9780077641542

11th Edition

Authors: Stephen Slavin

Question Posted: