Author Question: If a firm is producing at an output where the total revenue curve crosses the total cost curve, a. ... (Read 70 times)

jc611 · **on:** Jun 30, 2018

If a firm is producing at an output where the total revenue curve crosses the total cost curve,
a. revenue is maximized
b. cost is maximized
c. cost is minimized
d. profit is maximized
e. profit is zero

Question 2

Negative marginal revenue means that
a. the firm is maximizing its economic profit
b. the firm is maximizing its total revenue
c. total revenue is increasing at an increasing rate as output increases
d. total revenue is increasing at a decreasing rate as output increases
e. total revenue is decreasing as output increases