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Author Question: A firm will maximize profit at the level of output where: A) its marginal revenue equals total ... (Read 162 times)

jasdeep_brar

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on: Jun 29, 2018
A firm will maximize profit at the level of output where:
 
  A) its marginal revenue equals total cost.
  B) its marginal revenue equals marginal cost.
  C) its total cost equals total revenue.
  D) its average revenue equals average cost.

Question 2

Which of the following would be included in the total costs of production when an entrepreneur tries to compute her economic profit?
 
  A) Foregone wages
  B) Foregone interest
  C) Foregone rent
  D) All of the above.
  E) None of the above.


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macagnavarro

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


jasdeep_brar

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Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

strudel15

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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