This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: A firm will maximize profit at the level of output where: A) its marginal revenue equals total ... (Read 89 times)

jasdeep_brar

  • Hero Member
  • *****
  • Posts: 569
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.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

macagnavarro

  • Sr. Member
  • ****
  • Posts: 334
Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

D


jasdeep_brar

  • Member
  • Posts: 569
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it

AngeliqueG

  • Member
  • Posts: 343
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Drying your hands with a paper towel will reduce the bacterial count on your hands by 45–60%.

Did you know?

There are more sensory neurons in the tongue than in any other part of the body.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Did you know?

Most fungi that pathogenically affect humans live in soil. If a person is not healthy, has an open wound, or is immunocompromised, a fungal infection can be very aggressive.

Did you know?

Fatal fungal infections may be able to resist newer antifungal drugs. Globally, fungal infections are often fatal due to the lack of access to multiple antifungals, which may be required to be utilized in combination. Single antifungals may not be enough to stop a fungal infection from causing the death of a patient.

Rebound Tenderness, Apply Firm Pressure to the Abdomen Rebound Tenderness, Apply Firm Pressure to the Abdomen
Comparison of the level of skin damage as a result of the three different degrees of burns. Comparison of the level of skin damage as a result of the three different degrees of burns.
The gap between the projected level of greenhouse gas emissions The gap between the projected level of greenhouse gas emissions
Possible Sources of Differences in Output per Worker Possible Sources of Differences in Output per Worker
Role of Productivity in Determining Output per Worker, 2009 Role of Productivity in Determining Output per Worker, 2009
Keeping your feelings to yourself may increase your stress level Keeping your feelings to yourself may increase your stress level
Video: Sickle Cell Anemia

For a complete list of videos, visit our video library