Suppose a firm sells its product at a price lower than the opportunity cost of the inputs used to produce it. Which is true?

Related MCQs

• When a firm doubles its inputs and finds that its output has more than doubled, this is known as:
• When both average and total product are greater than zero, and marginal product equals average product, then total product:
• If a firm's revenues just cover all its opportunity costs, then:
• If the percentage increase in the quantity demanded of a commodity is smaller than the percentage fall in its price, the coefficient of price elasticity:
• If a firm’s average cost is Rs.32 at 6 units of output and Rs.34 at 7 unit, which one among the following is the marginal cost of producing the 7th unit
• Which would be an implicit cost for a firm? The cost:
• If you know that with 8 units of output, average fixed cost is Rs. 12.50 and average variable cost is Rs. 81.25, then total cost at this output level is:
• When marginal product reaches its maximum, what can be said of total product?
• Which method is used by Hicks to eliminate the income effect when price of a product is changed
• The larger the diameter of a natural gas pipeline, the lower is the average total cost of transmitting 1,000 cubic feet of gas 1,000 miles. This is an example of: