IB Economics 2.11.4 Rational Producer Behaviour Flashcards

Flashcards for 2.11.4 Rational Producer Behaviour

These interactive flashcards help IB Economics students Standard Level (SL) and Higher Level (HL) quickly review and memorize the essential definitions, formulas, and terms needed for success in IB Exams.

Each card focuses on 2.11.4 Rational Producer Behaviour and is aligned with the IB Economics syllabus, ensuring focused revision on microeconomics, macroeconomics, and international trade.

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A profit-maximising firm operates at an output level where $M R > M C$ . Predict its response regarding output and profit.

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Output: increases.
Profit: increases (since additional revenue exceeds additional cost).

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