1 answer

If a firm's marginal revenue from its 50th unit of output is $4 and the marginal...

Question:

If a firm's marginal revenue from its 50th unit of output is $4 and the marginal cost from its 50th unit of output is $5, then in the short run this firm should:

Group of answer choices

A. increase its plant size.

B. change its technology.

C. produce more units of output.

D. produce less than 50 units of output.


Answers

Answer

Option D

D. produce less than 50 units of output.

A firm maximizes profit at MR=MC

given that MR<MC

where

MR is downward sloping and MC is upward sloping so the firm is at the right of MR=MC as the MR<MC so the firm should reduce the output to increase profit and produce at MR=MC.

.

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