6. A firm’s profit is maximized when:
marginal revenue is less than marginal cost.
marginal revenue is equal to marginal cost.
marginal revenue is greater than marginal cost.
You must be logged in to post a comment.
7. A firm plans to expand production by 500 units. The marginal product per day for one additional unskilled laborer is 250 units and one additional skilled worker is 500 units. Wages per day are £150 for an unskilled labor and £280 for a skilled worker. The firm should hire:
two additional unskilled laborers.
one additional skilled worker.
either a skilled worker or two unskilled laborers.
8. A market structure characterized by few sellers and high barriers to entry into or exit from the industry is best described as:
9. A market structure characterized by many sellers and high advertising and marketing expenditure is best described as:
10. Advertising is least likely used in a:
UGC NET PAPER 1
UGC NET Management
UGC NET COMPUTER SCIENCE
UGC NET COMMERCE
GATE COMPUTER SCIENCE
CFA Level 1
Login with Facebook
Login with Google
Forgot your password?
Lost your password? Please enter your email address. You will receive mail with link to set new password.
Back to login