QUESTION 37 If firms choose to maximize revenue regardless of the cost Othey are more likely to become takeover targets of profit-maximizing firms Othey are less likely to be replaced by stockholders they are less likely to be replaced by the board of directors they are more likely to have higher profit than if they had pursued that policy explicitly. QUESTION 38 Cartels lead to market outcomes such as the same as for monopoly the same as if all the firms were competitive inefficiency because the monopolist makes profit O a Nash equilibrium QUESTION 39 "For a competitive firm, the value of the marginal product curve for capital is the firm's production function marginal cost curve supply curve of capital demand curve for capital QUESTION 40 The monopolist that maximizes profit O imposes a cost on society because the selling price is above marginal cost imposes a cost on society because the selling price is equal to marginal cost does not impose a cost on society because the selling price is above marginal cost O does not impose a cost on society because price is equal to marginal cost 20000
