Author Question: In order to maximize profits, a firm should produce the level of output at which total revenue is ... (Read 164 times)

genevieve1028 · **on:** Jun 30, 2018

In order to maximize profits, a firm should produce the level of output at which total revenue is maximized.
a. True
b. False
Indicate whether the statement is true or false

Question 2

In the market for crude oil, everything held constant, if rate of interest of simple bank accounts or interest-bearing investments decline, then:
a. the consumption of crude oil declines in the present period.
b. the extraction of crude oil will increase today.
c. the price of the crude oil in the international market falls in the present period.
d. greater research and developments are conducted to locate new sites of crude oil in the present period.
e. the extraction of crude oil will fall in the present period.