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

Author Question: The profit maximizing or loss minimizing quantity of output for any firm to produce exists at that ... (Read 104 times)

joblessjake

  • Hero Member
  • *****
  • Posts: 555
on: Jun 30, 2018
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.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Kdiggy

  • Sr. Member
  • ****
  • Posts: 340
Reply #1 on: Jun 30, 2018
Answer to Question 1

d

Answer to Question 2

c


joblessjake

  • Member
  • Posts: 555
Reply 2 on: Jun 30, 2018
Gracias!

Zebsrer

  • Member
  • Posts: 284
Reply 3 on: Yesterday
Excellent

« previous next »
 

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

Persons who overdose with cardiac glycosides have a better chance of overall survival if they can survive the first 24 hours after the overdose.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

Many supplement containers do not even contain what their labels say. There are many documented reports of products containing much less, or more, that what is listed on their labels. They may also contain undisclosed prescription drugs and even contaminants.

Did you know?

The average human gut is home to perhaps 500 to 1,000 different species of bacteria.

Activating a gene to produce “marathon mice.” Activating a gene to produce “marathon mice.”
Hair loss due to DHT Hair loss due to DHT
Plasma protein binding and drug availability: (a) The drug exists in a free state or is bound to ... Plasma protein binding and drug availability: (a) The drug exists in a free state or is bound to ...
A typical output driver. In this case, the PCM applies voltage to the fuel pump relay coil to ... A typical output driver. In this case, the PCM applies voltage to the fuel pump relay coil to ...
Major causes of biodiversity loss Major causes of biodiversity loss
Role of Productivity in Determining Output per Worker, 2009 Role of Productivity in Determining Output per Worker, 2009
Video: Chemical Synapse Animation

For a complete list of videos, visit our video library