A firm is currently operating where the MC of the last unit produced = $64, and the MR
of this unit = $70. What would you advise this firm to do?

See explanation

Explanation:

We know, according to the profit maximization rule, Marginal Revenue = Marginal Cost

According to the question, marginal cost = $64;

marginal revenue = $70.

Therefore, MR > MC. Therefore, the company should continue operating the business. Whenever the company reaches MR = MC point, the company has to produce to get the highest possible profit.

1. c

2. b

3. a

4. c

5. a

6. b

7. c

8. c

9.b

10. d

just took it 100%

answer; yield to maturity;