If marginal cost is greater than marginal revenue

A) the firm should expand output.
B) the firm should contract output.
C) the firm should hold output constant.
D) there is no way to determine if the firm should expand output,contract output,or hold output constant.

Marginal Cost

The cost incurred by producing one additional unit of a product or service, a crucial concept for optimizing production and determining pricing.

Firm

A business organization, such as a corporation, partnership, or sole proprietorship, which is engaged in the production and distribution of goods or services.