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Alla [95]
3 years ago
12

State whether true or false and briefly explain why:

Business
1 answer:
gayaneshka [121]3 years ago
4 0

Answer:

Stating True or False

P > MC, so producing more would mean that the marginal cost increases to match the market price. FALSE

P = AC, so producing more would mean that the average cost would exceed the price reducing profits. FALSE

P = MC, so producing more would mean that the marginal cost would exceed the price reducing profits.  TRUE

MR < MC, so producing more would mean that the marginal cost increases to match the market price. FALSE

Explanation:

All profit-maximizing producers accept a market price (P) that is equal to the marginal cost (MC), i.e. (P = MC).  At this point, the market price does not exceed the marginal costs (costs of factors of production).  When = P > MC, it shows that the benefits of producing more goods exceed the production costs, to the benefit of the society.   However, if P < MC, then the social costs of producing the goods exceed the social benefits, signalling that the economy should produce less.

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Suppose that an economy produces 2,400 units of output, employing 60 units of input, and the price of the input is $30 per unit.
Vinil7 [7]

an economy produces 2,400 units of output, employing 60 units of input, and the price of the input is $30 per unit. the level of productivity in this economy is 40

<h3>What is productivity?</h3>
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To learn more about productivity with the given link

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8 0
1 year ago
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3 years ago
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