Author Question: To protect economic profits A) a firm should try to acquire a barrier to entry. B) a firm should ... (Read 224 times)

Collmarie · **on:** Jun 30, 2018

To protect economic profits
A) a firm should try to acquire a barrier to entry.
B) a firm should limit substitutes.
C) a firm should have a patent if possible.
D) all of these choices.

Question 2

To maximize total revenue
A) should produce where MR=MC.
B) should produce where MR=P.
C) a firm should produce where MR=0.
D) should produce where P=ATC.