Final answer:
It is (b) false that the NMC of any proposed strategy must be lower than the current NMC to increase profit. Instead, a firm should produce up to the point where marginal revenue equals marginal costs to maximize profits.
Step-by-step explanation:
The statement "The NMC of any proposed strategy must be lower than the current NMC to increase a business's net profit" is (b) false. The correct approach is to consider the relationship between marginal revenue (MR) and marginal costs (MC). If the marginal costs exceed the marginal revenue, then the firm will reduce its profits for every additional unit of output it produces. To maximize profits, a firm should aim for the point where MR equals MC. Producing beyond this point will lead to a decrease in net profit, as each additional unit's cost will be more than the revenue it generates.