The profit maximizing or loss minimizing quantity of output for ...

[joblessjake]

The profit maximizing or loss minimizing quantity of output for any firm to produce exists at that output level in which:
 a. total revenue is maximized.
  b. total cost is minimized.
  c. marginal cost is minimized.
  d. marginal revenue equals marginal cost.

Question 2

If the cross-elasticity of demand for two goods is positive, this means that the goods are:
 a. normal goods.
  b. inferior goods.
  c. substitutes.
  d. complements.

[Kdiggy]

Answer to Question 1

d

Answer to Question 2

c

[joblessjake]

Thanks for the timely response, appreciate it

[coreycathey]

Excellent