If marginal cost exceeds marginal revenue, the firm is most likely to be at a profit-maximizing level of output. should increase the level of production to maximize its profit. should reduce its average fixed cost in order to lower its marginal cost. may still be earning a positive accounting profit

Match each of the terms below with an example that fits the term. a. fungibility the production of gasoline b. inelasticity the switch from coffee to tea c. non-excludability the provision of national defense d. substitution the demand for cigarettes

Ben collins plans to buy a house for $166,000. if the real estate in his area is expected to increase in value by 2 percent each year, what will its approximate value be five years from now?

Select the correct answer a research organization conducts certain chemical tests on samples. they have data available on the standard results. some of the samples give results outside the boundary of the standard results. which data mining method follows a similar approach? o a. data cleansing ob. network intrusion o c. fraud detection od. customer classification o e. deviation detection