Question

Mark owns a cattle ranch near Hugo, Oklahoma. Mark is currently producing beef at an output level where marginal revenue exceeds marginal cost. In order to

maximize his profit, Mark should

O A. decrease his output.

OB. shut down his ranch.

O c. not change his output.

OD. increase his output.

O E. probably change his output, but more information is needed to determine if he should increase, decrease, or not change it.

Answer 1

Answer is D. Increase his output.

Refer below.

Explanation:

Mark owns a cattle ranch near Hugo, Oklahoma. Mark is currently producing beef at an output level where marginal revenue exceeds marginal cost. In order to

maximize his profit, Mark should increase his output.